Manufacturing Growth on the Rise in MayHarvill Industries
Manufacturing growth in the United States has ramped up in May, which is a first time manufacturing has experienced growth of this caliber since all the way back in November of 2014. The Institute for Supply Management has reported on Monday that the May index rose to 52.8%, which is a 1.3% increase from the previous 51.5% reported back in April. Anything higher than 50% is indicative of the manufacturing economy’s expansion in general terms, and any number below 50 expresses the opposite. The May manufacturing indes is the highest reported reading for the industry since February. Out of 18 manufacturing industries, 14 of them report growth for the month of May. This includes the food and beverage manufacturing industries as well. The recent ramp up in growth can be correlated closely to the rise in new orders and employment opportunities, the latter being up by 3.4% and the former experiencing an increase of 2.3%. Things are starting to look up for the food and beverage manufacturing industries. Check back in with Harvill Industries’ blog for future updates.