Home → News

U.S. economy shows slightly faster pulse in May

A pair of surveys of American businesses in May shows the U.S. economy is still growing steadily, though manufacturers that provide many blue-collar jobs have cooled off in the past few months. IHS Markit said its manufacturing PMI slipped to 52.5 this month from 52.8, marking an eight-month low. Manufacturers saw a surge that began late last year and continued through early 2017 before easing up lately. Lately firms have slowed production to avoid an excess buildup of inventories.

Subscribe to Newsletter

Get weekly updates on mortgage rates, finance, lending and real estate.