U.S. May ISM Manufacturing PMI hits four-year high
Bijie.com news: In the U.S., the May ISM Manufacturing PMI was 54, up 1.3 points from April, reaching the highest level since May 2022, aided by increases in new orders and production. The manufacturing PMI has shown an expansionary trend for five consecutive months, indicating that, amid a backdrop of a significant increase in AI investment, more favorable tax policies, and reduced uncertainty in trade policy, the manufacturing sector is demonstrating renewed vitality. The growth rate of new orders accelerated to the highest level in four months, and factory production has also been on an upward trend. Part of the reason for the rise may be that consumers are trying to stockpile goods in large quantities, hoping to buy before prices rise in the future. Conflicts in the Middle East and the closure of the Strait of Hormuz have driven up the prices of oil and other raw materials. Although oil prices have fallen back from their peak, they remain far above pre-war levels. ISM data shows that for producers, raw material costs continue to rise sharply, with the price index declining,