Keeping you up to date on the latest data releases.
- ISM Manufacturing
The ISM’s Manufacturing Purchasing Managers Index (PMI) increased from 53.4 in March to 54.8 in April. This report was stronger than consensus expectations, and the index is now at a level last seen in June 2011. All but one component of the index increased during the month. Inventories contracted in April, falling from 50.0 to 48.5, and they have yet to expand this year. The increase was led by new orders and production. New orders added 3.7 points, climbing to 58.2 and reaching its highest point since April 2011. The production index grew to 61.0, an improvement of 2.7 points and its highest level since last March. Smaller gains were recorded in the employment index (up 1.2 points) and supplier deliveries index (up 1.2 points). The prices index (which is not seasonally adjusted and does not enter into the overall PMI) recorded no change in April, maintaining gains from earlier in the year.