Growth in US manufacturing slowed in April from March high

Growth in U.S. manufacturing slowed slightly in April, reflecting in part supply-chain troubles,  after hitting a 37-year high in March

Via AP news wire
Monday 03 May 2021 15:23 BST
Tech Manufacturing New York
Tech Manufacturing New York

Growth in U.S. manufacturing slowed in April partly due to a snarled global supply chain after hitting a 37-year high in March.

The Institute for Supply Management, a trade group of purchasing managers, said Monday that its index of manufacturing activity fell last month to a reading of 60.7. That was down from a March reading of 64.7, which had been the highest level since December 1983.

Any reading above 50 indicates manufacturing is expanding. April was the 11th consecutive month manufacturing has grown after contracting in April 2020, when the country was struggling to deal with the shutdowns caused by a global pandemic.

The slowdown in April reflected a number of problems facing U.S. factories including disruptions in supply chains for critical components such as computer chips.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in