Manufacturing PMI® at 60.7%
Manufacturing grew in April, as the Manufacturing PMI® registered 60.7 percent, 4 percentage points lower than the March reading of 64.7 percent. Although the Manufacturing PMI® has cooled compared to March, it remains at historically high levels. The Manufacturing PMI® continued to indicate strong sector expansion and U.S. economic growth in April. Four of the five subindexes that directly factor into the Manufacturing PMI® were in growth territory.
Economic activity in the manufacturing sector grew in April, with the overall economy notching an 11th consecutive month of growth, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
The April Manufacturing PMI® registered 60.7 percent. The New Orders Index registered 64.3 percent, declining 3.7 percentage points from the March reading of 68 percent. The Production Index registered 62.5 percent, a decrease of 5.6 percentage points compared to the March reading of 68.1 percent. The Backlog of Orders Index registered 68.2 percent, 0.7 percentage point higher compared to the March reading of 67.5 percent. The Employment Index registered 55.1 percent, 4.5 percentage points lower than the March reading of 59.6 percent. The Supplier Deliveries Index registered 75 percent, down 1.6 percentage points from the March figure of 76.6 percent. The Prices Index registered 89.6 percent, up 4 percentage points compared to the March reading of 85.6 percent.
All 18 manufacturing industries reported growth in April, in the following order: Electrical Equipment, Appliances & Components; Textile Mills; Furniture & Related Products; Machinery; Fabricated Metal Products; Primary Metals; Miscellaneous Manufacturing‡; Chemical Products; Plastics & Rubber Products; Food, Beverage & Tobacco Products; Computer & Electronic Products; Nonmetallic Mineral Products; Apparel, Leather & Allied Products; Transportation Equipment; Paper Products; Petroleum & Coal Products; Printing & Related Support Activities; and Wood Products.