U.S. Manufacturing Activity Advances in May

U.S. manufacturing activity expanded and hiring at factories picked up in May, signs of healthy growth for a key sector of the economy. The Institute for Supply Management on Thursday said its closely watched index of U.S. manufacturing activity inched ahead to 54.9 in May from 54.8 in April. A number above 50 indicates expansion. ISM manufacturing readings for each month this year have now been higher than any month in 2015 or 2016.