The ISM Manufacturing PMI registered 54.0% in May 2026 (released Monday June 1), up 1.3 percentage points from April's 52.7% and the highest reading since May 2022. New Orders rose to 56.8% (fifth consecutive month of expansion), Production 54.3%, and the overall economy marked its 19th straight month of expansion - corresponding to roughly 2.2% annualized real GDP growth.