The ISM Manufacturing Index registered 54.8 points in April, down 2.4 percentage points from the previous month, according to the Institute for Supply Management. April’s reading indicates an eighth consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, sixteen reported growth while one reported contraction.
The Employment Index decreased 6.9 points to 52.0 in April, indicating expansion for the seventh consecutive month but at a slower rate. Twelve industries reported expansion, while four reported a decrease in employment.
The New Orders Index decreased 7.0 percentage points to 57.5 in April, indicating growth for the seventh consecutive month. Sixteen industries reported expansion, while none reported a decrease in employment.
Export orders increased 0.5 point to 59.5, indicating growth for the fourteenth consecutive month. Thirteen industries reported growth while only one of the eighteen reported a decrease in new export orders.
The inventories index registered 51.0 points, up 2.0 points from the previous month. This reading indicates that raw materials inventories are growing.
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