U.S. manufacturing growth remained flat at its two-year low in April, with employment contracting to its lowest level in more than five years, according to an industry report released Friday.
The Institute for Supply Management (ISM) said its index of national factory activity held at 51.5 in April, the lowest reading since May 2013 ad below expectations of 52.0.
Still, a reading above 50 indicates expansion in the manufacturing sector, while below indicates contraction.
The employment contracted territory for the first time since May 2013, falling to 48.3.The April reading of 48.3 percent is the lowest reading since September 2009 when the Employment Index fell to 47.8 percent, and down from 50.0 in March.
The 13 industries reporting growth in production during the month of April — listed in order — are: Textile Mills; Plastics & Rubber Products; Nonmetallic Mineral Products; Paper Products; Printing & Related Support Activities; Fabricated Metal Products; Food, Beverage & Tobacco Products; Chemical Products; Transportation Equipment; Miscellaneous Manufacturing; Furniture & Related Products; Machinery; and Primary Metals. The two industries reporting a decrease in production during April are: Petroleum & Coal Products; and Computer & Electronic Products.
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