National factory activity was expected to decline in April, slowing amid seasonal factors and underpinned growth in the manufacturing sector due to strong domestic and global economies. Economists polled by Reuters estimated the U.S. manufacturing index would slip to 58.4 in April, after a reading of 59.3 in March. The previous month saw a decline in new orders, supporting economists' view that economic growth slowed in the first quarter. A reading above 50 in the ISM index indicates growth in manufacturing, which accounts for about 12 percent of the U.S. economy. Construction spending was forecast to grow 0.5 ... (full story)

Economic activity in the manufacturing sector expanded in April, and the overall economy grew for the 108th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®. The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee: “The April PMI® registered 57.3 percent, a decrease of 2 percentage points from the March reading of 59.3 percent. The New Orders Index registered 61.2 percent, a decrease of 0.7 percentage point from the March reading of 61.9 percent. The Production ... (full story)