The Institute for Supply Management’s closely watched PMI Index fell 2 points to 57.3 for April indicating continued manufacturing expansion, although it is the lowest reading since last summer and falls below the 12-month average of 58.4. According to the report, “lead time extensions, steel and aluminum disruptions, supplier labor issues and transportation difficulties continue. Export orders remained strong. The Prices Index is at its highest level since April 2011…price increases occurred across 17 of 18 industry sectors.” See the full ISM PMI report here.
