Wells Fargo: April’s ISM manufacturing number improved from its March reading, even as markets were expecting further weakness in the sector. Almost all of the components showed an improvement compared to March’s reading.
... According to today’s report, the improvement in manufacturing was broad based, with 16 out of 18 manufacturing sectors reporting expansion, one remaining stable and only one reporting a contraction. The only sector reporting a contraction was wood products.
The report also points out that manufacturing production trends are 65 improving with inventories contracting and customers’ inventories being too low. This can only point to an improving manufacturing sector in the U.S., although the trend could certainly change in the next several months.
... According to today’s report, the improvement in manufacturing was broad based, with 16 out of 18 manufacturing sectors reporting expansion, one remaining stable and only one reporting a contraction. The only sector reporting a contraction was wood products.
The report also points out that manufacturing production trends are 65 improving with inventories contracting and customers’ inventories being too low. This can only point to an improving manufacturing sector in the U.S., although the trend could certainly change in the next several months.
