Purchasing Managers’ Index Declined to 55.4% in April

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Purchasing Managers’ Index Declined to 55.4% in April

Tempe, AZ, May 2, 2022-The April Purchasing Managers’ Index (PMI) registered 55.4%, a decrease of 1.7 percentage points from the March reading of 57.1%, according to the latest Manufacturing ISM Report On Business. 

This figure indicates expansion in the overall economy for the 23rd month in a row after a contraction in April and May 2020. This is the lowest reading since July 2020 (53.9%). 

The New Orders Index registered 53.5%, down 0.3 percentage point compared to the March reading of 53.8%. 

The Production Index reading of 53.6% is a 0.9-percentage point decrease compared to March’s figure of 54.5%. 

The Prices Index registered 84.6%, down 2.5 percentage points compared to the March figure of 87.1%. 

The Backlog of Orders Index registered 56%, 4 percentage points lower than the March reading of 60%. 

The Employment Index figure of 50.9% is 5.4 percentage points lower than the 56.3% recorded in March. 

The Supplier Deliveries Index registered 67.2%, an increase of 1.8 percentage points compared to the March figure of 65.4%. 

The Inventories Index registered 51.6%, 3.9 percentage points lower than the March reading of 55.5%. 

The New Export Orders Index reading of 52.7% is down 0.5 percentage point compared to March’s figure of 53.2%. 

The Imports Index registered 51.4%, a 0.4-percentage point decrease from the March reading of 51.8%.

Seventeen manufacturing industries reported growth in April, in the following order: apparel, leather & allied products; machinery; plastics & rubber products; nonmetallic mineral products; computer & electronic products; food, beverage & tobacco products; transportation equipment; printing & related support activities; electrical equipment, appliances & components; paper products; primary metals; furniture & related products; chemical products; textile mills; fabricated metal products; miscellaneous manufacturing; and wood products. The only industry reporting a decrease in April compared to March is petroleum & coal products.