The Electrical Equipment, Appliances & Components manufacturing industry in the United States reported growth in May 2013, according to the latest Manufacturing ISM Report On Business. The Appliance industry was one of 10 manufacturing industries--out of 18 manufacturing industries tracked by ISM--to report growth in May 2013.
However, ISM said that the overall manufacturing sector's economic activity contracted in May 2013, making it the first month of contraction since November 2012. The May 2013 PMI was 49%, down from 50.7% in April. It was only the second month that the report showed manufacturing sector contraction since July 2009, when PMI was 49.9%. It has been almost four years since the PMI was this low--it was 45.8% in June 2009.
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