U.S. ISM manufacturing expansion in May hits fastest pace in four years

The US manufacturing sector has signaled expansion for five consecutive months, indicating a revitalization of manufacturing against the backdrop of surging investments in artificial intelligence (AI), more favorable tax policies, and reduced uncertainty in trade policies. Persistent cost pressures may mean US consumers will face higher prices, as the Federal Reserve’s preferred inflation gauge rose 3.8% year-over-year in April.Related Articles:The expansion pace of US ISM manufacturing in May reached its fastest level in four years