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US manufacturing industry continues to slow down in May
According to data released by the Institute of Supply Management of the authoritative industry research institute on the 1st, in May this year, US manufacturing activity expanded for the 22nd consecutive month, but the expansion rate slowed down. The data shows that the US manufacturing purchasing managers index is 53.5, lower than the 60.4 in April, but still above the critical point of 50. The US Manufacturing Purchasing Managers Index is a barometer of the overall development of the US manufacturing industry. The index usually has a critical point of 50. Above 50 is considered to be the expansion of the manufacturing industry, while below 50 indicates that the manufacturing industry is shrinking. In terms of industry, 14 of the 18 manufacturing industries expanded in May, including mining, petroleum and coal products, machinery, computers and electronics, food and beverage and tobacco products, transportation equipment, etc. The scale of expansion in 17 industries in the month. Printing, furniture and related products, as well as the food, beverage and tobacco industries, contracted in the month.