The Institute for Supply Management said its index of national factory activity grew in April at its fastest pace in almost six years. The index expanded to 60.4 last month from 59.6 in March. Any reading above 50 shows expansion.
What respondents are saying….
- “Finances continue to be tight, and we are decreasing safety stock levels to reduce inventory.” (Electrical Equipment, Appliances & Components)
- “Business conditions continue to improve. Actual sales exceeded budget for the third straight month.” (Food, Beverage & Tobacco Products)
- “Demand from automotive manufacturers has continued to improve month over month.” (Fabricated Metal Products)
- “We are finally seeing a turnaround.” (Primary Metals)
- “Upward price pressure still evident.” (Chemical Products)
|Customers’ Inventories||33.0||39.0||-6.0||Too Low||Faster||13|
|Backlog of Orders||57.5||58.0||-0.5||Growing||Slower||4|