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Wednesday, April 17, 2024
HomeNewsEconomyISM Manufacturing Index Misses Forecast After Outperforming for 7 Months

ISM Manufacturing Index Misses Forecast After Outperforming for 7 Months

An SUV moves through the assembly line at the General Motors Assembly Plant in Arlington, Texas June 9, 2015. (Photo: Reuters)
An SUV moves through the assembly line at the General Motors Assembly Plant in Arlington, Texas June 9, 2015. (Photo: Reuters)

An SUV moves through the assembly line at the General Motors Assembly Plant in Arlington, Texas June 9, 2015. (Photo: Reuters)

The Institute for Supply Management gauge of the U.S. manufacturing sector showed slower growth than expected in April after 7 straight months of beating views. The ISM manufacturing index finally fell short at 54.8 in April, or 7 tenths below Econoday’s low estimate.

“Comments from the panel generally reflect stable to growing business conditions; with new orders, production, employment and inventories of raw materials all growing in April over March,” Bradley J. Holcomb, CPSM, CPSD, Chair of the Institute for Supply Management Manufacturing Business Survey Committee said.

The only industry that reported contraction in April compared to March is Apparel, Leather & Allied Products.

Of the 18 manufacturing industries, 16 reported growth in April in the following order: Electrical Equipment, Appliances & Components; Textile Mills; Nonmetallic Mineral Products; Furniture & Related Products; Plastics & Rubber Products; Fabricated Metal Products; Printing & Related Support Activities; Machinery; Paper Products; Chemical Products; Food, Beverage & Tobacco Products; Primary Metals; Miscellaneous Manufacturing; Computer & Electronic Products; Petroleum & Coal Products; and Transportation Equipment.

57.6 +1.0 Growing Faster 8
Employment 52.0 58.9 -6.9 Growing Slower 7
Supplier Deliveries 55.1 55.9 -0.8 Slowing Slower 12
Inventories 51.0 49.0 +2.0 Growing From
Contracting
1
Customers’ Inventories 45.5 47.0 -1.5 Too Low Faster 7
Prices 68.5 70.5 -2.0 Increasing Slower 14
Backlog of Orders 57.0 57.5 -0.5 Growing Slower 3
New Export Orders 59.5 59.0 +0.5 Growing Faster 14
Imports 55.5 53.5 +2.0 Growing Faster 3
OVERALL ECONOMY Growing Slower 95
Manufacturing Sector Growing Slower 8

Manufacturing ISM® Report On Business® data is seasonally adjusted for the New Orders, Production, Employment and Supplier Deliveries Indexes.

*Number of months moving in current direction.

Written by

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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