Manufacturing continues its growth trajectory
The Institute for Supply Management said the nation's manufacturing base continued its growth in April.
The PMI registered 54.8 percent, an increase of 1.4 percentage points when compared to March's reading of 53.4 percent.
ISM's New Orders Index registered 58.2 percent in April, which is an increase of 3.7 percentage points when compared to the March reading of 54.5 percent. This represents a continuation of growth for the 36th consecutive month, and at a faster rate than in March.
"Sixteen of the 18 industries reflected overall growth in April, and the New Orders, Production and Employment Indexes all increased, indicating growth at faster rates than in March," said Bradley J. Holcomb, chair of the Institute for Supply Management Manufacturing Business Survey Committee. "The Prices Index for raw materials remained at 61 percent in April, the same rate as reported in March. Comments from the panel generally indicate stable to strong demand, with some concerns cited over increasing oil prices and European stability."
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
