US Manufacturing PMI little changed in May

American factories are settling back into a solid pace of expansion after a post-election run-up that saw the Institute for Supply Management’s manufacturing gauge hit an almost three-year high, figures released Thursday showed. Factory index little changed at 54.9 (est. 54.8) from 54.8 in April; readings above 50 indicate growth. ISM’s gauge of new orders increased to 59.5 from 57.5. Measure of production eased, while employment index picked up 15 of 18 manufacturing industries reported growth.

ADP Employment increased by 253,000 jobs

Private sector employment increased by 253,000 jobs from April to May according to the May ADP National Employment Report. “May proved to be a very strong month for job growth,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Professional and business services had the strongest monthly increase since 2014. This may be an indicator of broader strength in the workforce since these services are relied on by many industries.”

CB Consumer Confidence down more than expected

The Conference Board Consumer Confidence Index, which had decreased in April, declined slightly in May. The Index now stands at 117.9 (1985=100), down from 119.4 in April. The Present Situation Index increased marginally from 140.3 to 140.7, while the Expectations Index declined from 105.4 last month to 102.6 in May.“Consumer confidence decreased slightly in May, following a moderate decline in April,” said Lynn Franco, Director of Economic Indicators at The Conference Board.

USD - Major events in the week ahead

Events that marked the week:

On Tuesday New Home Sales data was published. Sales of newly constructed homes stumbled in April, as builders retreated after a March surge that marked the strongest selling pace in a decade. New-home sales ran at a seasonally adjusted annual rate of 569,000, the Commerce Department said Tuesday.  That was well below the MarketWatch consensus forecast of a 610,000 annual rate, but was offset by sharp upward revisions to data from prior months.