Economic activity in the manufacturing sector contracted in April after one month of expansion following 16 consecutive months of contraction, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®. "The Manufacturing PMI® registered 49.2 percent in April, down 1.1 percentage points from the 50.3 percent recorded in March. The overall economy continued in expansion for the 48th month after one month of contraction in April 2020. (A Manufacturing PMI® above 42.5 percent, over a period of time, generally indicates an expansion of the overall economy.) The New Orders Index moved back ... (full story)

The Institute for Supply Management (ISM) revealed in its report on Wednesday that the United States Manufacturing Purchasing Managers Index (PMI) decreased to 49.2% in April from 50.3% registered in March. New Orders fell sharply to 49.1, marking a significant contraction, and Production, although still growing, slowed to 51.3, down from 54.6 in March. Employment in the sector slightly improved, up 1.2 points to 48.6, yet continues to contract. Notably, the Prices Index surged to 60.9, indicating an increase in cost, which could pressure manufacturers dealing with fluctuating market conditions. "The ... (full story)