Economy
May 3, 2016
ISM Manufacturing PMI at 50.8 Percent in April
Written by Sandy Williams
The April 2016 Manufacturing ISM Report on Business reported the April PMI registered at 50.8 percent, a decrease of 1.0 percent from March. The PMI reading above 50 indicates that manufacturing activity on a national basis expanded for the second month in a row after five consecutive months of contraction. The growth in manufacturing was slower than expected by economists polled by Reuters who forecast an increase to 51.4 percent. The overall economy grew for the 83rd consecutive month.
The 12 month average for the PMI was 50.4 with a high of 53.1 in June 2015 and a low of 48.0 in December 2015.
