BLBG: Markit Index Of Manufacturing In U.S. Fell To 54 In May
The Markit Economics final index of U.S. manufacturing decreased to 54 in May from 56 in April, the London-based group said today.
A reading above 50 in the purchasing managers’ measure indicates expansion. The final figure, based on a survey of more than 600 companies, compares with an initial reading of 53.9 released on May 24.
The Markit gauge of U.S. manufacturing was released last month for the first time. The company surveys purchasing managers in more than 30 countries and regions, including Europe and China. Its euro-area manufacturing index fell in May to 45.1, the lowest since mid-2009, from 45.9 in April. China’s factory gauge dropped to 48.4 from 49.3 in April.
A report earlier today from the U.S. Labor Department showed that payrolls expanded by 69,000 in May, less than the most pessimistic forecast in a Bloomberg News survey of economists, after a revised 77,000 gain that was smaller than initially estimated.
To contact the reporter on this story: Lorraine Woellert in Washington at lwoellert@bloomberg.net
To contact the editor responsible for this story: Christopher Wellisz in Washington at cwellisz@bloomberg.net
