Posted May 1, 2019

Manufacturing expansion slowed in April

Manufacturing expanded in April, as the Manufacturing ISM Report On Business index registered 52.8 percent, a decrease of 2.5 percentage points from the March reading of 55.3 percent.

"The PMI reversed a March expansion improvement, thanks to decreases in new orders, production expansion and employment. The PMI achieved its lowest level of expansion since October 2016, when the index registered 51.7 percent," said Timothy R. Fiore, chair of the Institute for Supply Management Manufacturing Business Survey Committee.

A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.