Manufacturing is still experiencing a slowdown as the sector faces uncertainty regarding tariffs, according to the PMI.

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.