AXIOS (Courtenay Brown) - America has a muddled recovery in manufacturing
Data: Institute for Supply Management via FactSet ; Chart: Courtenay Brown/Axios This is the chart that White House economic officials want you to see: A closely watched industry survey suggests a long U.S. manufacturing slump is giving way to a factory rebound. Why it matters: By this measure, the manufacturing recession is over. Activity across the sector expanded for a fifth straight month in May after spending much of the last two years in contraction territory. - But it is happening alongside miserable industry anecdotes about the Iran war's energy shock, tariffs and supply chain chaos. Driving the news: The Institute for Supply Management's manufacturing purchasing managers' index — one of the most closely watched gauges of U.S.…