The overall U.S. economy grew for the 12th straight time following seven months of contraction, while the manufacturing sector expanded for the ninth time in the wake of 18 months of contraction, the Institute for Supply Management reported yesterday.

According to the ISM’s monthly report on business, the Purchasing Managers Index jumped to 60.4 in April from 59.6 in March.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.