Manufacturing output slips in April, reports ISM

The Institute for Supply Management (ISM) reported today in its April Manufacturing Report on Business that April Manufacturing output remained in growth modes, despite seeing declines in some of its key metrics. The report’s key metric, the PMI, dipped 2.5% to 52.8 (a reading of 50 or higher indicates growth), following a 1.1% increase from February to March, a 2.4% decrease from January to February and a 2.3% increase from December to January. While an uneven growth pattern remains intact, the index has seen growth for 32 consecutive months, with the over all economy now having grown for 120 consecutive months. The April PMI reading is 4.4% below the 12-month average of 57.2.
Source: logistics Mgmt