Economy
May 3, 2021
ISM PMI Remains in Expansion, But Slips Slightly in April
Written by Sandy Williams
The ISM Manufacturing Report on Business came in lower than expected in April. The PMI dipped four points to a reading of 60.7% as both the new orders and production indexes edged downward to 64.3% and 62.5%, respectively. A score above 50, however, indicates expansion, which means demand continued to improve in April. Fabricated metal products and primary metals were among the top five industries that reported growth last month.
Backlog of orders registered 0.7 points higher at a reading of 68.2. The supplier deliveries index dipped 1.6 points to 75% indicating suppliers continued to struggle to get products to manufacturers but at a marginally slower rate, said Timothy R. Fiore, chairman of the Institute for Supply Management Manufacturing Business Survey Committee.
