News of Note
U.S. Manufacturing Growth in April
T. Augustine Lo
A report by the Institute of Supply Management (“ISM”) signaled continuing expansion of activity in the manufacturing sector since the beginning of this year. ISM’s purchasing managers’ index for April was 54.8, which was at the highest level since June of last year. An index above 50 indicates growth. The ISM report for April also reported strong growth in new export orders. The manufacturing sector has contributed significantly to economic recovery for the past three years, including job creation.