ISM Manufacturing Composite Index Increased 1.4 Points in April

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The ISM’s manufacturing index increased 1.4 points to 54.8 in April, meaning that the manufacturing sector increased the speed of its expansion. The backlog of orders dipped below 50, after three months above it, to 49.5. In other words, order backlogs are shrinking for the first time since last December. In addition, the employment index increased 1.2 points to 57.3–the highest figure since June 2011. The price index held steady at 61.

–From the St. Louis Federal Reserve

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