Economic activity in the manufacturing sector failed to grow in May, while the overall economy grew for the 79th consecutive month, according to the Manufacturing ISM Report On Business released on June 2. The Institute for Supply Managment's PMI index registered 49.6%, 1 percentage point higher than the 48.6% reported in April.
A reading above 50% indicates that the manufacturing economy is generally expanding; below 50% indicates that it is generally contracting.
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