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The figure represents a recovery from February's 43.7 and March's 48.7 points. The February index was the lowest ever since MLBKT launched the survey in September 1995.
In April 2004, the index was one percentage point above its present level. Following stagnation in the first four months of last year (an index of 50 points), the PMI was only 47.7 in January-April in 2005, notes MLBKT.
All but one of the PMI's component indexes showed growth, with only the production index dropping a notch. The production index was down 0.1 point to 51.7. The employment index was up 0.7 points on the month to 46.1, possibly signaling a halt to further erosion of the manufacturing sector workforce.
Of other indexes not part of the headline PMI index, the export index was up four points during the month, while the import index dropped 0.2 points. At the same time, inventories for finished products also rose, climbing 3.6 points to 55.3. The purchasing price index, also not part of the PMI, was down 1.0 point to 54.9 points in April.
