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ISM’s index of national factory activity rosefrom 40.1 in Aprip to 42.8 in May. That’s the highest reading sincew September, and the fifth straight monthly Any reading below 50 signals contractioh inthe sector, while readingas above 50 indicate growth. More encouraginb than the overall reading wasthe “New Orders” part of the which reached 51.1 in May. May was the firsgt month the New Orders Index has moved abovew50 percent, following 17 consecutivw months of contraction. Growth in that part of the indexz indicates the likelihood of more activity in the manufacturinhg sector in thecominb months.
According to ISM, five of the 18 manufacturing industriees reported growthin May: nonmetallic mineral plastics and rubber products; machinery; beverage and tobacco products; and printing and related support activities.
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