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Monthly Survey of Manufacturing, May 2023
Manufacturing sales increased 1.2% to $72.9 billion in May, following a 0.1% decline in April, mainly driven by higher sales of chemical products (+4.8%), motor vehicles (+4.8%) and machinery (+4.2%). Sales in primary metal manufacturing decreased the most (-6.9%). Year over year, total sales were up 0.2% in May. Total sales in constant dollars rose 2.2% in May, indicating a higher volume of goods sold. The Industrial Product Price Index fell 1.0% in May. Following a 3.2% increase in April, sales of chemical products rose 4.8% to $5.9 billion in May, mostly on higher sales of pesticide, fertilizer, and other ... (full story)