U.S. manufacturing continues ascent
Home & Textiles Today Staff -- Home Textiles Today, May 8, 2002
Tempe, AR — Climbing out of a long, deep recession, U.S. manufacturing grew for a third straight month in April — if at a somewhat slower pace than in March — signaling continued momentum in a resurgent economy.
The monthly index of the nation's purchasing managers, a key barometer of manufacturing activity, registered 53.9 in April, down modestly from the 55.6 percent put up in March, but still pointing to continued growth in the sector.
For a second straight month, the textiles industry showed signs of rallying and was one of 18 out of 20 manufacturing sectors that grew during that time, said the Institute for Supply Management, the purchasing managers' trade group.
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