Tuesday, June 3, 2025
In the most recent Manufacturing ISM Report On Business, the country’s supply executives reported that the manufacturing sector’s economic activity contracted for the third consecutive month in May, after expanding for two months and then contracting for 26 straight months.
Susan Spence, MBA, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee, released the findings:
“The Manufacturing PMI registered 48.5 percent in May, 0.2 percentage point lower compared to the 48.7 percent recorded in April. The overall economy continued in expansion for the 61st month after one month of contraction in April 2020. (A Manufacturing PMI above 42.3 percent, over some time, generally indicates an expansion of the overall economy.)”
“Looking at the manufacturing economy, 57 percent of the sector’s gross domestic product (GDP) contracted in May, up from 41 percent in April. The share of manufacturing GDP registering a composite PMI calculation at or below 45 percent is a good metric to gauge overall manufacturing weakness; in May, this figure was 5 percent, a 13-percentage-point decrease compared to the 18 percent in April. Of the six largest manufacturing industries, two (Petroleum & Coal Products and Machinery) expanded in May, compared to four in April,” describes Spence.
According to respondents from a few manufacturing sectors, increased costs and tariff uncertainties are to blame for recent decreases. The following are the seven manufacturing sectors that reported an increase in May:
Paper products, wood products, printing and related support activities, food, beverage, and tobacco products, transportation equipment, chemical products, and primary metals are the seven industries that reported contraction in May, in that order. While the furniture and related product sector recorded production growth, the wood product sector reported a decline in manufacturing. Production and consumer stocks have decreased, according to the wood, furniture, and related goods businesses.
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