Manufacturing slows for second month in April: ISM

By @ibtimes on

The pace of growth in the U.S. manufacturing sector slowed in April for a second straight month but input prices were at their highest in nearly three years, according to an industry report released on Monday.

The Institute for Supply Management said its index of national factory activity fell to 60.4 in April from 61.2 the month before. The figure topped economists' forecasts for a reading of 60. The index for prices paid rose to 85.5 from 85, the highest since July 2008.

A reading above 50 indicates expansion in the sector.

The data was in line with previous regional reports that showed a slowdown in manufacturing in April. ISM's broader national report has been expanding since August 2009 and hit a peak in February 2011.

(Reporting by Steven C. Johnson, Editing by Chizu Nomiyama)

Join the Discussion