Note: The ISM made a seasonal adjustment error in their release this morning. The index was corrected twice, and is now reported to have increased to 55.4%, not decreased to 53.2% as was initially reported.
The ISM manufacturing index suggests faster expansion in May than in April. The PMI was at 55.4% in May, up from 54.9% in April. The employment index was at 52.8%, down from 54.7% in March, and the new orders index was at 56.9%, up from 55.1% in April.
Now you know.
Next I will discuss rational markets, unless I cannot find something that fits in blockquotes, at which point I will make a correction in my plans for the amazing shrinking blog.