May 13, 2015
April PMI Flat with March
Economic activity in the manufacturing sector expanded in April for the 28th consecutive month as the PMI registered 51.5 percent, unchanged from March, reports the Institute for Supply Management, Tempe, Ariz., in its latest Manufacturing ISM Report on Business.
Of the 18 manufacturing industries surveyed, 15 reported growth in April, including fabricated metal products, miscellaneous manufacturing, machinery, transportation equipment, appliances and components, and primary metals.
Among other indices, ISM’s New Orders Index registered 53.5 percent, an increase of 1.7 percentage points from March, while the Production Index was at 56 percent, 2.2 percentage points above the previous month. However, the Employment Index declined 1.7 percentage points to 48.3 percent, reflecting contracting employment levels from March.
April’s PMI of 51.5 percent corresponds to a 2.6 percent increase in real gross domestic product. Moreover, the average PMI of 52.4 percent for the first four months corresponds to a 2.9 percent increase in GDP, according to ISM’s calculations.