ISM Manufacturing Index Edges Up To 52.8% To Nudge Past Expectations

The Institute for Supply Management's manufacturing index rose slightly in May to a reading of 52.8%, from 51.5% in April. That marginally topped the MarketWatch-compiled economist survey for a reading of 51.8%, on a scale where any reading over 50% indicates expansion. The new orders component rose 2.3 points to 55.8%, and the employment index also improved. Comments from the panel carry a positive tone in terms of an improving economy, increasing demand, and improving flow of goods through the West Coast ports, ISM said.