ISM-NY News

April 2014 Manufacturing ISM Report On Business®
5/1/2014

(Tempe, Arizona) —Economic activity in the manufacturing sector expanded in April for the 11th consecutive month, and the overall economy grew for the 59th consecutive month, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®.

The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee. "The April PMI® registered 54.9 percent, an increase of 1.2 percentage points from March's reading of 53.7 percent, indicating expansion in manufacturing for the 11th consecutive month. The New Orders Index registered 55.1 percent, equal to the reading in March, indicating growth in new orders for the 11th consecutive month. The Production Index registered 55.7 percent, slightly below the March reading of 55.9 percent. Employment grew for the 10th consecutive month, registering 54.7 percent, an increase of 3.6 percentage points over March's reading of 51.1 percent. Comments from the panel generally remain positive; however, some expressed concern about international economic and political issues potentially impacting demand."

Of the 18 manufacturing industries, 17 are reporting growth in April in the following order: Apparel, Leather & Allied Products; Primary Metals; Furniture & Related Products; Miscellaneous Manufacturing; Food, Beverage & Tobacco Products; Transportation Equipment; Fabricated Metal Products; Machinery; Printing & Related Support Activities; Plastics & Rubber Products; Textile Mills; Chemical Products; Computer & Electronic Products; Wood Products; Paper Products; Petroleum & Coal Products; and Electrical Equipment, Appliances & Components. The only industry reporting contraction in April is Nonmetallic Mineral Products.

WHAT RESPONDENTS ARE SAYING ...
  • "Business is strong and continues to grow in my industry." (Textile Mills)
  • "Winter weather has slowed order intake but not inquiries. We think there is pent-up demand waiting for the weather to break." (Fabricated Metal Products)
  • "U.S. remains stable, Asia is increasing in sales dramatically and Europe remains soft." (Transportation Equipment)
  • "Overall business is up. Hiring is also up. Skilled trades in short supply." (Transportation Equipment)
  • "Slight improvement in defense spending and manufacturing." (Computer & Electronic Products)
  • "Export demand picking up but seems to have no leverage to raise prices. Margins are very thin, and concerned about Chinese slowdown effect on our business." (Chemical Products)
  • "China returned from their New Year holiday with brisk demand. Domestic markets are also doing well." (Wood Products)
  • "Softening in bookings, shipments at same level." (Electrical Equipment, Appliances & Components)
  • "Spring of 2014 is 3 to 4 percent better than Spring of 2013 for our company." (Machinery)
  • "Russia may stop importing medical devices manufactured completely outside of Russia. Would have big negative impact — 5 to10 percent lost revenue." (Miscellaneous Manufacturing)

The full text version of the Manufacturing ISM Report On Business® is posted on ISM's Web site at www.ism.ws on the first business day of every month after 10:10 a.m. (ET).

The next Manufacturing ISM Report On Business® featuring the May 2014 data will be released at 10:00 a.m. (ET) on Monday, June 2, 2014.

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