While US manufacturing slowed in April, it did continue to expand, according to the Institute for Supply Management (ISM) manufacturing index. The index fell from 55.3 to 52.8, its lowest level since late 2016. (Any index score above 50 represents economic expansion.) This was the 120th consecutive month of US manufacturing growth, according to the ISM report.
Of the 18 manufacturing industries, 13 reported growth in April, in the following order: Textile Mills; Electrical Equipment, Appliances & Components; Miscellaneous Manufacturing; Printing & Related Support Activities; Chemical Products; Nonmetallic Mineral Products; Plastics & Rubber Products; Machinery; Furniture & Related Products; Food, Beverage & Tobacco Products; Computer & Electronic Products; Paper Products; and Fabricated Metal Products. The five industries reporting contraction in April are: Apparel, Leather & Allied Products; Primary Metals; Wood Products; Petroleum & Coal Products; and Transportation Equipment.
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