Economic Buzz: US ISM PMI signals continued expansion in US manufacturing for fourth month in April

US manufacturing continued to expand in April, marking the fourth consecutive month of growth, according to the latest ISM Manufacturing PMI report. The Manufacturing PMI stood at 52.7%, unchanged from March, signaling ongoing growth in the economy for the 18th month in a row. The New Orders Index rose to 54.1%, up from 53.5% in March, reflecting continued demand for products.

However, the Production Index dropped to 53.4%, down from 55.1% in March, indicating a slight slowdown in output. Prices remained high, with the Prices Index jumping 6.3 percentage points to 84.6%, its highest level since April 2022. The Backlog of Orders Index fell to 51.4%, and the Employment Index dropped to 46.4%, signaling slower job growth.

Supplier delivery times continued to slow, rising to 60.6%, the highest in five months, as demand outpaced supply. Inventories increased slightly, up to 49%, but still below growth territory. New Export Orders dropped to 47.9%, indicating contraction for the second month in a row, while Imports fell to 50.3%, reflecting weaker demand for overseas goods. Despite these mixed results, overall economic expansion remains intact.

Powered by Commodity Insights