Economic activity grew in the U.S. manufacturing sector during April, marking the 23rd consecutive month of growth according to the latest Manufacturing ISM® Report on Business®. However, that growth was slower than in March — the April Manufacturing PMI was 55.4%, compared to 57.1% in March (anything over 50% indicates growth).
The food, beverage, and tobacco products sector was one of the 17 manufacturing industries that reported growth during the month of April. Supply chain issues and prices remained the biggest concerns.
Several commodities remain in short supply, including temporary labor, which has been on this list for 12 consecutive months. The food, beverage, and tobacco products industry reported slower supplier deliveries in April. On a positive note, the industry reported growth in both new orders and employment.
“Supply chain is still constrained, and prices continue to rise. We are focusing on ways to stay profitable while continuing to fill customer orders. Relationship management and strong negotiation skills are extremely important right now,” one industry respondent said.