Job growth fell to 38,000 in May
The U.S. economy created the fewest number of jobs in more than five years in May, hurt by a strike by Verizon workers and a fall in goods producing employment. The unemployment rate fell further to 4.7 percent.
Factory orders rose 1.9 percent in April, largest increase in six months
Factory orders increased 1.9 percent in April, the biggest gain since a 2.4 percent rise in October. Orders had been up 1.7 percent in March after having fallen in February.
Manufacturing economy grew again in May for third straight month
The May PMI® registered 51.3 percent, an increase of 0.5 percentage point from the April reading of 50.8 percent. and registering growth for the third consecutive month.
Service sector economy grew at slower pace in May
The NMI® registered 52.9 percent in May, 2.8 percentage points lower than the April reading of 55.7 percent. Overall, the report reflects a slowing in momentum from the previous months of growth for the non-manufacturing sector.