The local seasonally adjusted Purchasing Manager’s Index (PMI) rose in April to 52.9 from 51.8 in March. Any reading above 50 indicates growth.
The index reported gains in new orders, employment, inventories, prices, exports and imports. The index reported declines in production, customers’ inventories and backlogs of orders.
Among the comments by respondents in April:
“Biggest issue currently is capacity. We are running 24/6 and many departments seven days. Additional equipment on order but months away from helping.”
“Most commodities readily available with stable pricing.”
“Economic uncertainty creating ‘spikey’ ordering and pricing. Prices have varied accordingly with the spurts of hoped for growth.”
“Automotive demand is stronger than forecasts, generating increased expediting and air freight expens for imported fasteners.”