Economic activity in the manufacturing sector failed to grow in April, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
 
The manufacturing sector failed to grow in April as the PMI fell below 50 percent for the third consecutive month. Manufacturers are in a situation where both new orders and production are slowly declining, but prices continue to rise at highly inflationary rates, according to ISM.
 
Bright spots this month are the growth in the Backlog of Orders Index after six consecutive months of decline, continued strength in new export orders and a reduction in customers’ inventories.
 
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