Manufacturing expanded faster than forecast in April, driven by gains in exports and inventories that are keeping the industry at the forefront of the U.S. economic expansion.
The Institute for Supply Management’s factory index fell to 60.4 last month from 61.2 in March, the Tempe, Arizona-based group said today. Readings greater than 50 signal expansion and the measure has exceeded 60 for four consecutive months, the best performance since 2004.
