The Institute for Supply Management's (ISM) headline index rose 0.5 points in May compared with April. The index has been drifting upward since January and May's number and represents its highest reading in 2014. The new orders subindex increased 1.8 points over April, indicating growth in new orders for the twelfth consecutive month. The production subindex rose 5.3 points over April's level to 61.0, while the employment subindex indicated an increase in manufacturing payrolls for the eleventh consecutive month, registering 52.8 points. The ISM report suggests a good trend for manufacturing and is in line with a number of strong regional reports, including the Southeast PMI, which has been trending upward in 2014.
