Economic activity in the overall United States manufacturing sector- and in the Electrical Equipment, Appliances & Components sector - expanded in April for the 33rd consecutive month, and the overall economy grew for the 35th consecutive month, according to the nation's supply executives in the latest Manufacturing ISM Report On Business.
"The PMI registered 54.8%, an increase of 1.4 percentage points from March's reading of 53.4%, indicating expansion in the manufacturing sector for the 33rd consecutive month," said Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management Manufacturing Business Survey Committee. "Sixteen of the 18 industries reflected overall growth in April, and the New Orders, Production and Employment Indexes all increased, indicating growth at faster rates than in March. The Prices Index for raw materials remained at 61% in April, the same rate as reported in March. Comments from the panel generally indicate stable to strong demand, with some concerns cited over increasing oil prices and European stability."
Of the 18 manufacturing segments that the ISM tracks, 16 reporting growth in April 2012, including Electrical Equipment, Appliances & Components.
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