In May, the manufacturing sector continued to struggle with the Trump administration’s tariff policies, as reflected in the Institute for Supply Management’s Purchasing Managers’ Index, which fell to 48.5%, indicating contraction. Production slightly increased to 45.4%, but supply shortages are emerging due to depleted inventories. The import index dropped to 39.9%, the lowest since 2009, raising concerns for future production. While S&P reported a PMI increase to 52, indicating some growth, domestic demand remains strong, overshadowing foreign orders affected by tariffs, creating a troubling outlook for the industry.

Source: https://www.supplychaindive.com/news/ism-s-and-p-pmi-may-2025-trump-tariffs/749566/