ISM reports steady growth
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Manufacturing News, Source : TheManufacturer.com
Published : 03 May 2004 18:49
The Institute for Supply Management today reported continuing growth in April, as economic activity grew in the manufacturing sector for the 10th straight month.
The overall economy grew for the 30th consecutive month, said ISM’s Report on Business.
“The manufacturing sector continued to improve in April. While new orders contracted slightly compared to last month, production moved upward, and employment grew at a faster rate,” said Norbert J. Ore, C.P.M., chair of ISM’s Manufacturing Business Survey Committee and group director of strategic sourcing and procurement at Georgia-Pacific, in a statement. “The second quarter is off to a very strong start. Many respondents indicate that order backlogs are growing for the first time in several years.”
ISM’s PMI registered 62.4 percent in April, a decrease of 0.1 percentage point when compared to 62.5 percent in March. ISM’s New Orders Index declined 0.7 percentage point from 65.7 percent in March to 65 percent in April. ISM’s Production Index increased 1.5 percentage points from 65.5 percent in March to 67 percent in April. The ISM Employment Index is at 57.8 percent for April, an increase of 0.8 percentage point when compared to the 57 percent reported in March.
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