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ISM Manufacturing Expands in May Amidst Productivity Measurement Challenges

By PulseAugur Editorial · [4 sources] ·

The latest ISM manufacturing report for May indicates a fifth consecutive month of expansion, driven by new orders and production. However, employment and inventories are showing signs of contraction. A key concern is the difficulty in accurately measuring productivity in the services sector, which poses risks for investors and policymakers due to the lack of a standard unit of output. AI

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AI-generated summary · Google Gemini · from 4 sources. How we write summaries →

ISM Manufacturing Expands in May Amidst Productivity Measurement Challenges

COVERAGE [4]

  1. X — SemiAnalysis TIER_1 English(EN) · SemiAnalysis_ ·

    Services productivity is structurally invisible to the current macro data, and investors, policymakers and the public bear the risk of a mistake. (4/4)

    Services productivity is structurally invisible to the current macro data, and investors, policymakers and the public bear the risk of a mistake. (4/4) https://t.co/xcLzKeyXKc

  2. X — SemiAnalysis TIER_1 English(EN) · SemiAnalysis_ ·

    The sustained gap between employment and production, with a large price swing, is a pattern we have long seen in manufacturing and the data is robust to it. The

    The sustained gap between employment and production, with a large price swing, is a pattern we have long seen in manufacturing and the data is robust to it. The same footprint would be near-impossible to detect in services, where there is no standard unit of output. (3/4) https:/…

  3. X — SemiAnalysis TIER_1 English(EN) · SemiAnalysis_ ·

    May was the fifth straight month of solid expansion. New orders and production pushed the index higher and supplier deliveries stayed elevated, while employment

    May was the fifth straight month of solid expansion. New orders and production pushed the index higher and supplier deliveries stayed elevated, while employment and inventories were mildly contracting. (2/4) https://t.co/Joip0Ll3Qf

  4. X — SemiAnalysis TIER_1 English(EN) · SemiAnalysis_ ·

    ISM manufacturing, May. Another prices reading in the 80s is grabbing headlines, but with a conclusion to the Iran/US conflict looking no closer, it shouldn't c

    ISM manufacturing, May. Another prices reading in the 80s is grabbing headlines, but with a conclusion to the Iran/US conflict looking no closer, it shouldn't come as a surprise. But there was more to it than the scary inflation number. (1/4) 🧵 https://t.co/9xM4npGfWk

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