ISM: Manufacturing Contracted at a Slower Rate in May

This week, a report on U.S. manufacturing showed a slight improvement for the sector. Reports note that the Institute for Supply Management’s (ISM) latest data showed that among the six largest manufacturing sub-sectors, food, beverage and tobacco products showed expansion. Sub-sectors that continued to contract at strong levels included transportation equipment, petroleum and coal products, and fabricated metal. 6/1/2020