The ISM for Manufacturing Index came in lighter than expected at 50.7 in April confirming some of the not-so-great economic data of the last few weeks.
It still indicated expansion, however.
The ISM for Manufacturing Index has cooled off since January and February, when it hit a 12-month high of 54.2. But the index also had a similar decline last fall before rebounding.
Some of the sub indexes weren't that great. The Employment Index fell to 50.2% from 54.2% last month.
But, in a small sliver of good news, the New Orders Index actually moved higher to 52.3% from 51.4%.
This was the second month in a row that the ISM for Manufacturing weakened instead of strengthening. It's never good to see it slip back towards 50.
Is this just a normal soft patch?
Or is this a warning sign of rough times ahead this summer?
More From Zacks.com