April Manufacturing Up Despite Rising Prices: PMI

US manufacturing activity saw a marked improvement in April, expanding at its quickest pace in seven months despite rising inflation, according to the latest data from S&P Global’s purchasing managers survey.

The seasonally adjusted S&P Global PMI posted a reading of 59.2 in April, up from 58.8 the month prior, but lower than the earlier released ‘flash’ estimate of 59.7. (Recall that a reading above 50.0 indicates growth). All told, the PMI Index growth accelerated for the third straight month and saw the sharpest rise since last September, the report said.

Manufacturing

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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