美国制造业PMI强劲反弹至52.3 创三个月新高

Group 1 - The core point of the news is that the US manufacturing PMI for May 2025 rose to 52.3, indicating a significant recovery in manufacturing activity after two months of contraction, surpassing market expectations and previous values [1] - The increase in PMI reflects a rebound in manufacturing output and the highest growth in new orders in the past 15 months, driven largely by inventory accumulation [1] - The rise in inventory levels is attributed to companies and customers stockpiling in anticipation of potential tariff issues, with a notable increase in procurement inventory reaching a historical high since the survey began in 2009 [1] Group 2 - Price pressures have become a focal point, with manufacturers' sales prices recording the largest monthly increase since September 2022, and input costs reaching a new high since August 2022 [2] - The composite PMI also improved, rising to 52.1, indicating overall economic activity enhancement, although there are warnings about the potential for inflationary pressures due to rising costs being passed on to consumers [2] - The stock market rebound and easing tariff policies are seen as important factors in the manufacturing recovery, but rising prices and supply chain delays may introduce uncertainties for future economic growth [2]