Economic activity in the manufacturing sector expanded in April, and the overall economy grew for the 120th consecutive month, according to the latest Manufacturing ISM Report On Business. The April PMI registered 52.8 percent, a decrease of 2.5 percentage points from the March reading of 55.3 percent.
The New Orders Index registered 51.7 percent, a decrease of 5.7 percentage points from the March reading of 57.4 percent.
The Production Index registered 52.3 percent, a 3.5-percentage point decrease compared to the March reading of 55.8 percent.
The Employment Index registered 52.4 percent, a decrease of 5.1 percentage points from the March reading of 57.5 percent.
The Supplier Deliveries Index registered 54.6 percent, a 0.4-percentage point increase from the March reading of 54.2 percent.
The Inventories Index registered 52.9 percent, an increase of 1.1 percentage points from the March reading of 51.8 percent.
The Prices Index registered 50 percent, a 4.3-percentage point decrease from the March reading of 54.3 percent.
Of the 18 manufacturing industries, 13 reported growth in April, in the following order: textile mills; electrical equipment, appliances and components; miscellaneous manufacturing; printing and related support activities; chemical products; nonmetallic mineral products; plastics and rubber products; machinery; furniture and related products; food, beverage and tobacco products; computer and electronic products; paper products; and fabricated metal products.
The five industries reporting contraction in April are: apparel, leather and allied products; primary metals; wood products; petroleum and coal products; and transportation equipment.