New orders returned to growth in the US manufacturing sector in May, supporting a faster expansion in production midway through the second quarter of the year. Meanwhile, business confidence picked up and positive expectations regarding the future for the sector contributed to the hiring of additional staff, a renewed rise in purchasing activity and a build-up of stocks of finished goods. Meanwhile, the rate of input cost inflation quickened to the fastest in just over a year, with firms raising their selling prices in response. The seasonally adjusted S&P Global US Manufacturing Purchasing Managers’ Index™ ... (full story)