Investing.com - The rate of growth in the economy's manufacturing sector picked up in May, according to a report released on Friday.
The Institute of Supply Management said its manufacturing purchasing managers' index rose to 58.7 in May, from 57.3 the previous month.
Economists had forecast a reading of 58.2.
The manufacturing employment rose to 56.3 from 54.2 while the prices index was at 79.5 from 79.3 the prior month.
A reading above 50 for the index indicates expansion in the sector, and a reading below 50 signals contraction.