Economic activity in the US manufacturing sector expanded in April, and the overall economy grew for the 108th consecutive month, said the nation's supply executives in the latest Manufacturing ISM Report On Business.
The April PMI registered 57.3 percent, a decrease of 2 percentage points from the March reading of 59.3 percent.
The New Orders Index registered 61.2 percent, a decrease of 0.7 percentage point from the March reading of 61.9 percent.
The Production Index registered 57.2 percent, a 3.8 percentage point decrease compared to the March reading of 61 percent.
The Employment Index registered 54.2 percent, a decrease of 3.1 percentage points from the March reading of 57.3 percent.
The Supplier Deliveries Index registered 61.1 percent, a 0.5 percentage point increase from the March reading of 60.6 percent.
The Inventories Index registered 52.9 percent, a decrease of 2.6 percentage points from the March reading of 55.5 percent.
The Prices Index registered 79.3 percent in April, a 1.2 percentage point increase from the March reading of 78.1 percent, indicating higher raw materials prices for the 26th consecutive month.
Of the 18 manufacturing industries, 17 reported growth in April, in the following order: wood products; electrical equipment, appliances and components; fabricated metal products; transportation equipment; furniture and related products; paper products; machinery; primary metals; nonmetallic mineral products; chemical products; computer and electronic products; petroleum and coal products; food, beverage and tobacco products; plastics and rubber products; printing and related support activities; miscellaneous manufacturing; and apparel, leather and allied products.
No industry reported a decrease in PMI in April compared to March.