Activity in the U.S. manufacturing sector unexpectedly expanded at a faster rate in the month of April, according to a report released by the Institute for Supply Management on Tuesday, with the index of activity in the sector rising to a ten-month high.
The ISM said its purchasing managers index climbed to 54.8 in April from 53.4 in March, with a reading above 50 indicating an expansion in manufacturing activity. The increase surprised economists, who had expected the index to edge down to a reading of 53.0.
With the unexpected increase, the purchasing managers index rose to its highest level since coming in at 55.8 in June of 2011.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.