US ISM manufacturing index beats expectations in April

In the US, the Institute for Supply Management (ISM) manufacturing index showed that the contraction in the manufacturing industry continued despite exceeding market expectations at 47.1 in April. The ISM announced the manufacturing industry index for April. Accordingly, the ISM manufacturing index increased by 0.8 points compared to the previous month in April, reaching 47.1. The data exceeding market expectations was expected to reach 46.8 in this period. The index, which indicates a contraction in the manufacturing industry for the 6th consecutive month, had been 46.3 in March. The production index increased by 1.1 points monthly in April to 48.9, while the index for new orders increased by 1.4 points to 45.7. The employment index also increased by 3.3 points in the same period, reaching 50.2. During this period, 5 sub-sectors of the manufacturing industry recorded growth, while 11 sectors experienced contraction. The growing sectors were listed as printing and related activities, apparel, leather and related products, petroleum and coal products, metal products and transportation equipment. Downward revision in S&P Global's manufacturing industry PMI data The manufacturing industry Purchasing Managers' Index (PMI) for April announced by S&P Global was revised from 50.4 to 50.2. The index reached its highest level since October 2022 in April and rose above 50 for the first time in the last 6 months. During the period in question, the PMI data, which indicates growth in the manufacturing industry, was also realized at 49.2 in March. PMI data above 50 indicates expansion in the sector, while below 50 indicates contraction.