U.S. manufacturing index continues steady growth in April

Institute for Supply Management's Purchasing Managers Index registers 60.4 percent for April, the ninth straight month of expansion.

The Institute for Supply Management (ISM, Tempe, Ariz., USA) on May 3 reported that economic activity in the U.S. manufacturing sector expanded in April for the ninth consecutive month, and the overall economy grew for the 12th consecutive month. ISM's Purchasing Managers Index (PMI) registered 60.4 percent, following a March value of 59.6 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

The report was issued by Norbert J. Ore, CPSM, C.P.M., chair of the Institute for Supply Management Manufacturing Business Survey Committee. “The manufacturing sector grew for the ninth consecutive month during April. The rate of growth as indicated by the PMI is the fastest since June 2004 when the index hit 60.5 percent. Manufacturers continue to see extraordinary strength in new orders, as the New Orders Index has averaged 61.6 percent for the past 10 months. The signs for employment in the sector continue to improve as the Employment Index registered its fifth consecutive month of growth. Overall, the recovery in manufacturing continues quite strong, and the signs are positive for continued growth.”