U.S. ISM Manufacturing Index Rises More Than Forecast

Manufacturing in the U.S. shrank in April at the slowest pace in seven months after a collapse in inventories caused orders and production to steady.

The Institute for Supply Management’s factory index rose to 40.1 last month, higher than forecast, from 36.3 in March. Readings less than 50 signal a contraction.

Companies cut stockpiles last quarter at the fastest pace on record, bringing forward the day when production and employment stabilize and help right the world’s largest economy. Still, the worst recession in at least a half century is likely to persist a bit longer as companies from Caterpillar Inc. to Chrysler LLC and General Motors Corp. continue to cut back.

Read Full Article from Bloomberg

- Posted: 2009-05-01 09:28:54

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