US goods producers registered a renewed decline in the health of the manufacturing sector during May, according to the latest PMITM survey from S&P Global. The deterioration was only marginal, but was driven by a solid contraction in new orders amid muted demand conditions. Output and employment continued to increase, however, as firms expanded their capacity to fulfil existing backlogs of work amid improved supply conditions. Efforts to run down stocks were met by a steeper contraction in purchasing activity, hinting at lower production growth in coming months. Sharply falling demand for inputs contributed to an ... (full story)