April manufacturing output heads down, for second straight month, reports ISM

April manufacturing activity slipped for the second straight month, according to the new edition of the Manufacturing Report on Business, which was issued today by the Institute for Supply Management (ISM).

The report’s benchmark reading, the PMI, came in at 48.7 (a reading of 50 or higher indicates growth), down 0.3% from March’s 49.0 reading. The last two months of declines were preceded by gains, with January and February readings at 50.9 and 50.3, respectively.

The April PMI reading topped the 12-month average, of 48.5, by 0.2%. January’s 50.9 and October’s 46.9 mark the respective high and low readings for that period.

ISM reported that nine manufacturing sectors saw growth in April, including: Apparel, Leather & Allied Products; Petroleum & Coal Products; Plastics & Rubber Products; Electrical Equipment, Appliances & Components; Textile Mills; Computer & Electronic Products; Nonmetallic Mineral Products; Miscellaneous Manufacturing; Machinery; Chemical Products; and Primary Metals. Sectors seeing contraction included: Wood Products; Furniture & Related Products; Paper Products; Food, Beverage & Tobacco Products; Transportation Equipment; and Fabricated Metal Products.

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