Posted May 3, 2010
ISM: PMI increases 0.8 percent
Economic activity in the manufacturing sector expanded in April for the ninth consecutive month according to the latest Manufacturing ISM Report On Business.
The PMI registered 60.4 percent, an increase of 0.8 percentage point when compared to March's reading of 59.6 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
ISM's New Orders Index registered 65.7 percent in April, 4.2 percentage points higher than the 61.5 percent registered in March. This is the 10th consecutive month of growth in the New Orders Index.
ISM's Production Index registered 66.9 percent in April, which is an increase of 5.8 percentage points from the March reading of 61.1 percent.
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