Economic activity in the manufacturing sector expanded in May at a slightly faster past than April, according to the Institute for Supply Management’s purchasing managers index for US manufacturing, released today. May’s index reading was 54.9, up from April’s reading of 54.8.

Any reading above 50% generally indicates improving conditions.

The employment portion of the index rose to a reading of 53.5 in May, up 1.5 percentage points from 52.0 in April.

MarketWatch reports the index came close to its economists' forecast, which called for a reading of 55.0%. The subcomponents of the survey were generally stronger, with the new-orders component rising 2 points to 59.5%, while the prices component dropped eight points to a reading of 60.5%.

Separately, the US four-week moving average of initial claims for unemployment insurance rose to 238,000 last week, up 2,500 from the previous week’s average, according to seasonally adjusted numbers released today by the US Department of Labor. The previous week’s average was revised upward by 250.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended May 27 rose to 248,000, up 13,000 from the previous week’s level, which was revised upward by 1,000.

CNBC reports that the number of Americans filing for unemployment benefits increased more than the 239,000 expected last week, but the rise probably does not signal a material shift in labor market conditions as claims for several states, including California, were estimated.