Manufacturing Index Rises for 33rd Consecutive Month

The ISM report also notes that the index measure of the overall economy has grown for the last 35 months in a row. The index readings for PMI, new orders, production, and employment grew at a faster rate in April than in March, with new orders rising for the 36th consecutive month and employment rising for the 31st month in a row. Only inventories and order backlogs contracted in April, while exports grew and imports remained the same.

The ISM’s reported growth bested a survey of economists who predicted that the index would fall to 53 in April. A main driver of the better performance was automobile manufacturing.