The pace of growth in the nation’s manufacturing sector slowed slightly in May, according to a monthly survey by the Institute for Supply Management.
ISM’s Purchasing Managers Index dipped from 60.4 in April to 59.7 last month. Sixteen of the 18 manufacturing industries tracked by ISM reported growth during the month.
ISM’s survey found that supplies of certain materials are becoming tight as industries that allowed stockpiles to dwindle during the recession, now need those materials in order to grow.
