Manufacturing Index Rises Further in April

By April 29, 2019 Investment News

The Manufacturing Purchasing Manager’s Index (PMI) in the month of April, stood at 57.7 index points, indicating expansion in the manufacturing sector for the 25th consecutive month.

The index grew at a faster rate when compared to the index in the previous month.

According to the PMI Survey report for April 2019, 12 of the 14 sub-sectors surveyed reported growth in the review month in the following order: electrical equipment; plastics & rubber products; cement; petroleum & coal products; transportation equipment; food, beverage & tobacco products; non-metallic mineral products; chemical & pharmaceutical products; furniture & related products; textile, apparel, leather & footwear; printing & related support activities and fabricated metal products.

The paper products and primary metal subsectors recorded decline in the review period.

Also, at 58.8 points, the production level index for the manufacturing sector grew for the 26th consecutive month in April 2019. The index indicated a faster growth in the current month, when compared to its level in the month of March 2019.

In all, 11 of the 14 manufacturing sub-sectors recorded increased production level, while three recorded decline.

In addition, at 57.2 points, the new orders index grew for the 25th consecutive month, indicating increase in new orders in April 2019.

Also, 10 sub-sectors reported growth, while four contracted in the review month. The manufacturing supplier delivery time index stood at 58.1 points in April 2019, indicating slower supplier delivery time.

The index has recorded growth for 23rd consecutive months. Eleven of the 14 subsectors recorded improved suppliers’ delivery time, while one remained unchanged and two recorded decline in the review period.

“The employment level index for April 2019 stood at 57.0 points, indicating growth in employment level for the twenty-fourth consecutive month.

“Of the 14 sub-sectors, 11 reported increased employment level, one reported unchanged employment level while two reported decreased employment in the review month.

“The manufacturing sector inventories index grew for the twenty-fifth consecutive month in April 2019. At 57.5 points, the index grew at a faster rate when compared to its level in March 2019.

“Nine of the 14 sub-sectors recorded growth, two remain unchanged, while three sectors reported declined raw material inventories in the review month,” it added.


Source: ThisDay