US manufacturing sector contracts again in April

Monday, 01 May 2023 22:37:46 (GMT+3)   |   San Diego
       

Economic activity in the US manufacturing sector contracted in April for the sixth consecutive month following a 28-month period of growth, according to the latest Manufacturing ISM Report On Business.

The April Manufacturing PMI registered 47.1 percent, 0.8 percentage point higher than the 46.3 percent recorded in March. Regarding the overall economy, this figure indicates a fifth month of contraction after a 30-month period of expansion. Index breakdown:

Index April level  March level 
New Orders 45.7 44.3
Production 48.9 47.8
Prices 53.2 49.2
Backlog of Orders 43.1 43.9
Employment 50.2 46.9
Supplier Deliveries 44.6 44.8
Inventories 46.3 45.2
New Export Orders  49.8 47.6
Imports 49.9 47.9

The five manufacturing industries that reported growth in April are: printing and related support activities; apparel, leather and allied products; petroleum and coal products; fabricated metal products; and transportation equipment.

The 11 industries reporting contraction in April, in the following order, are: furniture and related products; wood products; nonmetallic mineral products; electrical equipment, appliances and components; plastics and rubber products; chemical products; machinery; primary metals; computer and electronic products; food, beverage and tobacco products; and miscellaneous manufacturing.


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