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Economic Buzz: US manufacturing growth hits four-year high
02-Jun-2026 08:17
US manufacturing conditions strengthened in May, according to S&P Global's latest PMI survey. The headline index rose to 55.1, up from 54.5 in April, marking the highest reading since May 2022 and extending its run above the 50.0 growth threshold to ten consecutive months.

Production surged at the fastest pace in over four years, outpacing new orders and prompting firms to build stocks of finished goods. While domestic demand supported growth, exports continued to decline for the eleventh straight month, weighed down by tariffs and geopolitical instability.

Input costs climbed sharply, driven by rising fuel and oil-related prices, with inflation reaching its highest level since July 2022. Supplier delivery times worsened to the greatest extent since August 2022, reflecting ongoing supply chain disruption. Manufacturers responded by stepping up purchasing activity and stockpiling inputs.

Employment rose modestly, recording the strongest job creation in five months. Confidence in future output remained positive, supported by expectations of economic improvement and new product launches, though sentiment slipped to a four-month low amid inflationary pressures and global uncertainty.

Overall, May's PMI data signaled robust expansion in US manufacturing, but highlighted persistent challenges from rising costs and supply chain delays.

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