April Manufacturing Stronger Than Expected

Washington, DC, May 1, 2012 -- Manufacturing expanded at a slightly faster rate in April, according to the ISM index.

The index rose to 54.8% last month from 53.4% in March, the Institute for Supply Management said Tuesday.

Any reading over 50 indicates expansion.

Economists had forecast the index to fall to 53.3%.

The new-orders index rose to 58.2% from 54.5% in March, while the employment index edged up to 57.3% from 56.1%.