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ISM’s index of national factory activity rosefrom 40.1 in Apri to 42.8 in May. That’s the highestg reading since September, and the fiftu straight monthly rise. Any reading beloa 50 signals contraction in the while readings above 50indicate growth. More encouraging than the overall reading wasthe “New part of the index, which reached 51.1 in May. May was the firs month the New Orders Index has moveds above50 percent, following 17 consecutive months of contraction.
Growth in that part of the index indicates the likelihood of more activityh in the manufacturing sector in the coming Accordingto ISM, five of the 18 manufacturing industriew reported growth in May: nonmetallic minerao products; plastics and rubber machinery; food, beverage and tobacco and printing and related supporf activities.
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