U.S. economy shows slightly faster pulse in May

• May 23, 2017
• realestatelife
• Business & Markets, Real Estate Finance

A pair of surveys of American businesses in May shows the U.S. economy is still growing steadily, though manufacturers that provide many blue-collar jobs have cooled off in the past few months. IHS Markit said its manufacturing PMI slipped to 52.5 this month from 52.8, marking an eight-month low. Manufacturers saw a surge that began late last year and continued through early 2017 before easing up lately. Lately firms have slowed production to avoid an excess buildup of inventories.