June 1 (Bloomberg) -- U.S. manufacturing grew in May at a faster pace than forecast as factories added workers to meet the greatest export demand in two decades as well as a revival in domestic orders.
The Institute for Supply Management’s gauge fell to 59.7 from 60.4 in April, exceeding the median forecast of economists surveyed by Bloomberg News, which called for a decline to 59. Readings greater than 50 point to expansion. Another report showed spending on construction projects rose in April by the most since 2000.
Faster space than expected, still down a bit from that in April, but well above 50. Good.