The overall economy grew for the seventy-first straight time, while the manufacturing sector expanded for the twenty-eighth consecutive month, the Institute for Supply Management reported Friday.
According to the ISM's monthly report on business, the ISM index remained at 51.5 in April, unchanged from 51.5 in March.
Economists polled by Thomson Reuters predicted the index would rise to 52.0.
An index reading below 50 signals a slowing economy, while a level above 50 suggests expansion. A reading of 50 shows the sector was unchanged in the month.
The prices paid index rose to 40.5 from 39.0. The employment index slid to 48.3 from 50.0.
The production index climbed to 56.0 from 53.8, the new orders index grew to 53.5 from 51.8; the supplier deliveries index dipped to 50.1 from 50.5; the export orders index increased to 51.5 from 47.5; and the imports index gained to 54.0 from 52.5.
The inventories index decreased to 49.5 from 51.5; the customers' inventories index fell to 44.0 from 45.5; and backlog of orders stayed at 49.5.
Respondents' comments included:
"Low energy costs continue to help the bottom line." (Food, Beverage & Tobacco Products)
"Automotive industry is still very strong." (Fabricated Metal Products)
"Business holding relatively flat in North America, softening a bit globally." (Transportation Equipment)
"Foreign Exchange is reducing revenue, but volume has remained consistent." (Chemical Products)
"International shipments still being delayed by the strikes at ports on the West Coast." (Computer & Electronic Products)
"Production and orders remain strong and steady." (Primary Metals)
"Business conditions are good, with slowly rising demand for our products." (Miscellaneous Manufacturing)
"Labor, both skilled and unskilled, remains difficult to find qualified individuals." (Furniture & Related Products)
"Continuing to expedite shipments through Vancouver due to ongoing port delays." (Machinery)
"Customers perceive that raw materials prices have bottomed out so are now releasing orders." (Plastics & Rubber Products)
