April Manufacturing ISM Report On Business®; PMI at 60.4%; New Orders, Production and Employment Growing; Supplier Deliveries Slower; Inventories Contracting

(a) Number of months moving in current direction

COMMODITIES REPORTED UP/DOWN IN PRICE and IN SHORT SUPPLY

Commodities Up in Price

Aluminum (10); Aluminum Products; Brass Products; Caustic Soda (2); Copper (2); Copper Products (2); Corrugated Containers (2); Ferro Alloys; Plastics (4); Plastic Resins (4); Polyethylene (3); Polypropylene (5); Polypropylene Resins; Pulp; Sodium Hydroxide; Stainless Steel; Stainless Steel Products; Steel (10); Steel Products (4); and Sulfuric Acid (2).

Commodities Down in Price

Natural Gas is the only commodity reported down in price.

Commodities in Short Supply

No commodities are reported in short supply.

Note: The number of consecutive months the commodity is listed is indicated after each item.

APRIL 2010 MANUFACTURING INDEX SUMMARIES

PMI

Manufacturing continued to grow in April with the rate of growth accelerating as the PMI registered 60.4 percent, an increase of 0.8 percentage point when compared to March’s reading of 59.6 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

A PMI in excess of 42 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the PMI indicates growth for the 12th consecutive month in the overall economy, as well as expansion in the manufacturing sector for the ninth consecutive month. Ore stated, “The past relationship between the PMI and the overall economy indicates that the average PMI for January through April (58.7 percent) corresponds to a 5.6 percent increase in real gross domestic product (GDP). In addition, if the PMI for April is annualized, it corresponds to a 6.2 percent increase in real GDP annually."

THE LAST 12 MONTHS

          Month                     PMI                               Month                     PMI
 
Apr 2010 60.4 Oct 2009 55.2
Mar 2010 59.6 Sep 2009 52.4
Feb 2010 56.5 Aug 2009 52.8
Jan 2010 58.4 Jul 2009 49.1
Dec 2009 54.9 Jun 2009 45.3
Nov 2009 53.7 May 2009 43.2
Average for 12 months – 53.5

High – 60.4

Low – 43.2


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