Thursday, May 1, 2014

ISM Manufacturing Index Continued Upward Trend in April

The ISM manufacturing index improved for the third consecutive month in April. It grew 1.2 points to 54.9. April’s levels, however, are still below last December’s, as the index has yet to fully recover from the harsh winter. The index has now been above its expansionary threshold of 50 for 11 months. The details of the report were modest, given that a greater rebound effect from the cold winter was anticipated.

New orders remained the same as the month prior, at 55.1. New export orders grew 1.5 points to 57.0. The inventory index grew to 53.0. As a result of new orders remaining the same and inventories improving, the gap between new orders and inventories – a proxy for future production – shrank 0.5 points to 2.1. Production saw a slight decline, losing 0.2 points and settling at 55.7.

The employment index grew from 51.1 to 54.7 in April and is at its highest level this year.

Read the ISM report.

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