Economy

Economic Commentary

Economic Calendar

Global Economies

Global Economic Calendar

U.S. mfg index tops expectations

In the United States, the Institute for Supply Management Manufacturing index came in at 52.8, rising in May and beating expectations.

Economists had forecast that the index rose to 52.0 in May from 51.5 in April.

New orders from factories grew at a faster pace, as well as manufacturing employment.

In all, 14 out of 18 industries reported growth, with Apparel, Leather & Allied Products leading the pack.

Respondents for the survey noted that the economy is getting stronger, and employment is picking up.

The Purchasing Manager's Index reading from Markit released earlier on Monday came in at 54.0 in May, falling from the previous month but beating forecasts.