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The manufacturing sector expanded in April while the overall economy grew for the 95rd consecutive month, according to supply executives in the latest Manufacturing ISM Report on Business. The April PMI was 54.8 percent, a decrease of 2.4 percentage point from the March reading.
The New Orders Index registered 57.5 percent, a decrease of 7 percentage points from the March reading of 64.5 percent. The Production Index registered 58.6 percent, up 1 percentage point from the March reading of 57.6 percent. The Employment Index registered 52 percent, 6.9 percentage points below the March reading of 58.9 percent.
A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
Of the 18 manufacturing industries, 16 reported growth in April in the following order: Electrical Equipment, Appliances & Components; Textile Mills; Nonmetallic Mineral Products; Furniture & Related Products; Plastics & Rubber Products; Fabricated Metal Products; Printing & Related Support Activities; Machinery; Paper Products; Chemical Products; Food, Beverage & Tobacco Products; Primary Metals; Miscellaneous Manufacturing; Computer & Electronic Products; Petroleum & Coal Products; and Transportation Equipment. The only industry that reported contraction in April compared to March is Apparel, Leather & Allied Products.
For more information, visit www.ism.ws.