Economic activity in the US manufacturing sector expanded in April, and the overall economy grew for the 95th consecutive month, according to the nation's supply executives in the latest Manufacturing ISM Report On Business.
The April PMI registered 54.8 percent, a decrease of 2.4 percentage points from the March reading of 57.2 percent.
The New Orders Index registered 57.5 percent, a decrease of 7 percentage points from the March reading of 64.5 percent.
The Production Index registered 58.6 percent, 1 percentage point higher than the March reading of 57.6 percent.
The Employment Index registered 52 percent, a decrease of 6.9 percentage points from the March reading of 58.9 percent.
Inventories of raw materials registered 51 percent, an increase of 2 percentage points from the March reading of 49 percent.
The Prices Index registered 68.5 percent in April, a decrease of 2 percentage points from the March reading of 70.5 percent, indicating higher raw materials prices for the 14th consecutive month, but at a slower rate of increase in April compared with March.
Of the 18 manufacturing industries, 16 reported growth in April in the following order: electrical equipment, appliances and components; textile mills; nonmetallic mineral products; furniture and related products; plastics and rubber products; fabricated metal products; printing and related support activities; machinery; paper products; chemical products; food, beverage and tobacco products; primary metals; miscellaneous manufacturing; computer and electronic products; petroleum and coal products; and transportation equipment.