Manufacturing activity in the U.S. contracted at a slightly slower rate in the month of May, according to a report released by the Institute for Supply Management on Monday.
The ISM said its purchasing managers index rose to 43.1 in May from 41.5 in April, coming in just below economist estimates for a reading of 43.6.
While the index rebounded from its lowest level since April of 2009, a reading below 50 still indicates a contraction in manufacturing activity.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.