By Gokhan Ergocun
ISTANBUL (AA) - The US Manufacturing Purchasing Managers Index (PMI) rose in April to 59.2 – a seven-month high – data provider S&P Global said on Monday.
The figure was up from 58.8 in March but lower than the “flash” estimate of 59.7 for April, it noted.
"The rate of overall growth accelerated for the third month running and was the sharpest since last September," it added.
Operating conditions improved markedly across the country's manufacturing sector in April.
Severe material and capacity shortages caused increases in cost burdens and selling prices but firms continued to hire additional staff to ease pressure on capacity, S&P Global said.
Chris Williamson, S&P Global chief business economist, said: “After a slow start to the year, which saw production growth almost stall, the manufacturing sector is starting the second quarter on a much stronger footing.
"Demand from consumers and businesses is proving encouragingly robust despite severe inflationary pressures, which intensified further during April."