US DATA: May ISM mfg text: “The PMI registered 53.5..

US DATA: May ISM mfg text: “The PMI registered 53.5 percent, a
modest decrease of 1.3 percentage points from April’s reading of 54.8
percent, indicating expansion in the manufacturing sector for the 34th
consecutive month. The New Orders Index continued its growth trend for
the 37th consecutive month, registering 60.1 percent in May. This
represents an increase of 1.9 percentage points from April and also the
highest level recorded by the index since April 2011. The Prices Index
for raw materials fell to 47.5 percent in May, dropping 13.5 percentage
points from April, indicating lower prices for the first time since
December 2011. Comments from the panel generally reflect
stable-to-strong orders, with sales showing steady improvement over the
first five months of 2012. Of the 18 manufacturing industries, 13 are
reporting growth in May.”