US: ISM PMI declines to 57.3 in April

Economic activity in the manufacturing sector expanded in April, and the overall economy grew for the 108th consecutive month, the latest Manufacturing ISM report on business revealed this Tuesday.

Key highlights:

   •  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 Index registered 57.2 percent, a 3.8 percentage point decrease compared to the March reading of 61 percent. 
   •  The Employment Index registered 54.2 percent, a decrease of 3.1 percentage points from the March reading of 57.3 percent.