Manufacturing growth speeds up: ISM

May 02, 2012 | 02:45 PM |

Tags  PMI, Purchasing Manufacturers Index, Institute for Supply Management

NEW YORK — U.S. manufacturing growth sped up in April, recording its 33rd consecutive monthly increase, according to the Institute for Supply Management (ISM).

"New orders, production and employment indexes all increased, indicating growth at faster rates than in March," said Bradley J. Holcomb, chairman of the organization’s manufacturing business survey committee.

The ISM’s purchasing managers’ index (PMI) rose to 54.8 percent in April from 53.4 percent in March; a reading above 50 percent indicates that the U.S. manufacturing economy generally is expanding.....

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