ISM manufacturing index in the USA was below expectations in April
In the USA, the manufacturing industry Purchasing Managers Index (PMI) of the Institute of Supply Management (ISM) was below market expectations with 49.2 in April.
ISM announced the manufacturing industry PMI data for April.
Accordingly, ISM manufacturing industry PMI data decreased by 1.1 points in April compared to the previous month, falling to 49.2.
Market expectations were that the data in question would take the value of 50 in this period.
The index, indicating the contraction in the manufacturing sector, was 50.3 in March.
The production index decreased by 3.3 points monthly to 51.3 in April, and the index for new orders decreased by 2.3 points to 49.1. The employment index increased by 1.2 points to 48.6.
During this period, growth was recorded in 9 sub-sectors of the manufacturing industry, while there was a contraction in 7 sectors. While growth was recorded in the non-metallic mineral products, printing, primary metals, textiles, electrical equipment, petroleum and coal products, transportation vehicles, chemical products and plastic and rubber products sectors, the sectors experiencing contraction were various manufacturing, machinery, furniture, wood products, food, beverage and tobacco products, processed metal products and paper products.
Upward revision in S&P Global’s manufacturing industry PMI data
On the other hand, S&P Global also announced the final manufacturing industry PMI data for April.
Accordingly, manufacturing sector PMI data was above expectations with 50 in April.
The index, which was announced as 49.9 in last month’s preliminary data, reached 51.9 in March.
PMI data readings of 50 and above indicate expansion in the sector, while values below 50 indicate contraction.