Despite a dip in new orders and export sales, the Markit Flash U.S. Manufacturing Purchasing Managers’ Index (PMI) was up from 55.4 to 56.2 in May.

The output index rose from 58.2 to 59.6, making May the fastest pace for output growth seen since February 2011, and according to the National Association of Manufacturers’ Shopfloor blog, a sign that American manufacturing is rebounding from “weather-related softness” earlier this year.

Output rises at fastest pace in over three years. Some Key points:

Work on new and existing orders supports growth

Payrolls continue to increase

Survey record increase in purchasing activity

The Data was collected 12 – 21 May 2014.

Operating conditions in the US manufacturing sector continued to improve during May, with strong rises in production and output complemented by further payroll growth. After accounting for seasonal factors, the Markit Flash U.S. Manufacturing Purchasing Managers’ Index™(PMI™) improved to 56.2 in May, up from April’s 55.4. Moreover, the latest reading was the strongest recorded by the survey for three months.

Flash U.S. Manufacturing PMI™ Summary

50.0 = no-change on previous month (seasonally adjusted)

Index May’14 Apr’14 Change signalled PMI 56.2 55.4 Expansion, faster rate Output 59.6 58.2 Expansion, faster rate New Orders 58.2 58.9 Expansion, slower rate New Export Orders 51.5 51.7 Expansion, slower rate Employment 53.5 53.7 Expansion, slower rate Backlogs of Work 55.9 55.2 Expansion, faster rate Output Prices 50.4 50.9 Rise, slower rate Input Prices 56.3 53.5 Rise, faster rate Stocks of Purchases 51.8 48.7 Expansion, change of direction Stocks of Finished Goods 47.7 49.1 Contraction, faster rate Quantity of Purchases 59.2 56.7 Expansion, faster rate Suppliers’ Delivery Times 46.8 49.5 Lengthening, faster rate

Decreases in new orders (58.9 to 58.2) and export sales (51.9 to 51.5) were slight, but still indicate growth, albeit at a slower rate.

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