PMI index drops slightly but remains above 60 indicating strong manufacturing growth
Posted By:
Tom Sanderson
Date Posted:
Wednesday, May 04, 2011
11:00 AM
The Institute of Supply Management reported that the Purchasing Managers' Index (PMI) decreased from 61.2 in March to 60.4 in April. This represents 21 consecutive months of growth and four straight months with a PMI greater than 60. A PMI over 50 indicates growth while a PMI under 50 indicates contraction in the manufacturing sector of the economy. The index reached a low of 32.5 in December 2008 but then recovered more quickly than other areas of the economy and remains one of the brighter spots in the economy today. The vertical bars in the graph represent recessions.
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ISM manufacturing index