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.