Purchasing Managers' Index Flat at 52.7% in April

Tempe, AZ, May 1, 2026- The Manufacturing Purchasing Managers’ Index (PMI) registered 52.7% in April, the same reading as March, say the nation’s supply executives. 

The overall economy continued in expansion for the 18th month in a row. (A Manufacturing PMI above 47.5%, over a period of time, generally indicates an expansion of the overall economy.) 

The New Orders Index expanded for the fourth straight month after four straight readings in contraction, registering 54.1%, up 0.6 percentage point compared to March’s figure of 53.5%. 

The April reading of the Production Index (53.4%) is 1.7 percentage points lower than March’s reading of 55.1%. 

The Prices Index remained in expansion (or ‘increasing’ territory), registering 84.6%, a 6.3-percentage point jump from March’s reading of 78.3%. In the last three months, the Prices Index has increased 25.6 percentage points to reach its highest level since April 2022 (84.6%). 

The Backlog of Orders Index registered 51.4%, down three percentage points compared to the 54.4% recorded in March. 

The Employment Index registered 46.4%, down 2.3 percentage points from March’s figure of 48.7%.

The Supplier Deliveries Index indicated slowing performance for the fifth month in a row after one month in ‘faster’ territory. The reading of 60.6% is up 1.7 percentage points from the 58.9% recorded in March; the index has risen in each of the last five months, meaning delivery times are increasingly slowing. (Supplier Deliveries is the only ISM PMI Reports index that is inversed; a reading of above 50% indicates slower deliveries, which is typical as the economy improves and customer demand increases.)

The Inventories Index registered 49%, up 1.9 percentage points compared to March’s reading of 47.1%. 

The Customers’ Inventories Index reading of 39.1% is a one-percentage point decrease compared to March.

The New Export Orders Index reading of 47.9% is two percentage points lower than the reading of 49.9% registered in March, making it the second month in a row in contraction territory. 

The Imports Index registered 50.3%, 2.3 percentage points lower than March’s reading of 52.6%.

The 13 manufacturing industries reporting growth in April-listed in order-are textile mills; nonmetallic mineral products; primary metals; plastics & rubber products; miscellaneous manufacturing; transportation equipment; machinery; electrical equipment, appliances & components; paper products; fabricated metal products; computer & electronic products; chemical products; and furniture & related products. The three industries reporting contraction in April are wood products; petroleum & coal products; and food, beverage & tobacco products.