U.S. manufacturing continues to grow in April

According to data released by the Institute for Supply Management on the 3rd, the U.S. manufacturing industry continued to grow in April at the fastest pace in nearly 6 years, indicating that the U.S. economy continues to recover. The index of manufacturing activity in April was 60.4, up from 59.6 in March and above the 60 analysts had expected. The manufacturing index includes new orders, production, employment, inventories, prices, and import and export orders. The index below 50 represents contraction and above 50 represents growth. The latest data showed that U.S. manufacturing has expanded for nine consecutive months. The Institute for Supply Management believes that the momentum of the economic recovery will increase, and the expansion momentum of the manufacturing industry will continue. According to the latest data released by the U.S. Department of Commerce, the U.S. gross domestic product grew by 3.2% in the first quarter of this year, marking the third consecutive quarter of U.S. economic growth.