Afternoon Coffee: ISM PMI Shows Manufacturing Expanded in May, Defective Takata Airbags Used in New Cars

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The U.S. manufacturing sector experienced growth in May, with the Institute for Supply Management’s PMI coming in at 51.3%, up 0.5% from April. New orders and production in the sector also continued to rise in May, but at a slower pace than seen in April.

Markit’s manufacturing PMI for May, released today, showed a slowdown in the sector, however. U.S. manufacturing lost momentum last month, according to the report, with Markit’s PMI coming in at 50.7, down from 50.8 in April.

A U.S. Senate Commerce Committee report said new cars are being sold with defective Takata airbags and will need to be later recalled. The report said some carmakers including Toyota and Volkswagen AG confirmed the airbags are in some new vehicles.

General Mills is recalling some of its Gold Medal flour out of an “abundance of caution” after nearly 40 people around the U.S. have become ill from possible E. Coli contamination linked to the product. The Centers for Disease Control and Prevention found about half the people who have fallen ill reported using the flour to make something homemade.

 

 

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