WASHINGTON DC – U.S. manufacturing activity continued to expand in April, albeit at a slower pace, as the overall economy grew for the 108th consecutive month, according to the nation’s supply executives in the latest Manufacturing ISM Report On Business.
The April PMI registered 57.3%, a decrease of 2 percentage points from the March reading of 59.3%. For context, the February PMI, at 60.8%, set the 12-month high.
From the report:
‘Consumption, described as production and employment, continues to expand, but has been restrained by labor and skill shortages,’ the report said. ‘Inputs, expressed as supplier deliveries, inventories and imports, declined overall, due primarily to inventory reductions likely led by supplier performance restrictions. Lead time extensions, steel and aluminum disruptions, supplier labor issues, and transportation difficulties continue. Demand remains robust, but the nation’s employment resources and supply chains continue to struggle.’