May 10, 2017

ISM: Manufacturing Growth Slows in April

The manufacturing economy grew for the seventh straight month in April, though the PMI slowed to 54.8 percent, reports the Institute for Supply Management, Tempe, Ariz., in its latest Manufacturing Report on Business. The PMI declined 2.4 percentage points from its March reading. Any reading above 50 percent represents growth.

In other findings, the New Orders Index registered 57.5 percent, a decrease of 7 percentage points from the previous month. The Production Index increased 1 percentage point to 58.6 percent, and the Employment Index declined 6.9 percentage points to 52 percent.

ISM surveys corporate purchasing managers each month to compile the PMI. Of the 18 manufacturing industries polled, 16 reported growth in April, including fabricated metal products, primary metals, appliances and components, machinery and miscellaneous manufacturing.

The average PMI of 56.4 percent for the first four months of the year corresponds to a 4.1 percent increase in real GDP on an annualized basis, says Bradley J. Holcomb, chairman of ISM’s Manufacturing Business Survey Committee.


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Sunday, December 17, 2017