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Monday, May 3, 2010

ISM Manufacturing Index Up 0.8 Point to 60.4

In April, the Institute for Supply Management's Manufacturing Index rose 0.8 point to 60.4. The increase put the index at a new cyclical high and was at a level not seen since 2003. This was the ninth consecutive month where the index was above 50, indicating manufacturing activity expansion. The recovery of manufacturing is continuing to accelerate. The production component jumped 5.8 points to 66.9. The new orders component also improved, increasing 4.2 points to 65.7. Though at a lower level, the employment component joined in the increase, rising 3.4 points to 58.5. However, the inventories component fell back below the expansionary threshold to 49.4, indicating perhaps that the inventory realignment of the past couple quarters may be coming to an end.


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