Economic activity in the manufacturing sector expanded in April for the 11th consecutive month, and the overall economy grew for the 59th consecutive month, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®.
The report was issued by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee. "The April PMI® registered 54.9 percent, an increase of 1.2 percentage points from March's reading of 53.7 percent, indicating expansion in manufacturing for the 11th consecutive month. The New Orders Index registered 55.1 percent, equal to the reading in March, indicating growth in new orders for the 11th consecutive month. The Production Index registered 55.7 percent, slightly below the March reading of 55.9 percent. Employment grew for the 10th consecutive month, registering 54.7 percent, an increase of 3.6 percentage points over March's reading of 51.1 percent. Comments from the panel generally remain positive; however, some expressed concern about international economic and political issues potentially impacting demand."
Of the 18 manufacturing industries, 17 are reporting growth in April in the following order:
- Apparel, Leather & Allied Products
- Primary Metals
- Furniture & Related Products
- Miscellaneous Manufacturing
- Food, Beverage & Tobacco Products
- Transportation Equipment
- Fabricated Metal Products
- Machinery
- Printing & Related Support Activities
- Plastics & Rubber Products
- Textile Mills
- Chemical Products
- Computer & Electronic Products
- Wood Products
- Paper Products
- Petroleum & Coal Products
- Electrical Equipment, Appliances & Components
The only industry reporting contraction in April is Nonmetallic Mineral Products.
To read the full April 2014 Manufacturing ISM® Report On Business, click here.