The Institute for Supply Managements' Purchasing Managers' Index registered 54.8 percent in April, an increase of 1.4 percentage points from March's reading of 53.4 percent, which indicates expansion in the US' manufacturing sector for the 33rd consecutive month. . Sixteen of the 18 industries reflected overall growth in April, and the New Orders, Production and Employment Indexes all increased, indicating growth at faster rates than in March.
The new orders index was up 3.7 percent to 58.2, while the production index increased 2.7 percent to 61. Employment was up 1.2 percent to 57.3; inventories fell 1.5 percent to 48.5; prices stayed neutral and exports grew 5 percent.