U.S. manufacturing continued to expand in April, but rising costs remain a major warning sign for the sector. The latest ISM Manufacturing PMI held steady at 52.7%, marking the fourth straight month of expansion, while new orders rose again and customer inventories remained low. But the report also showed mounting pressure on manufacturers, with the prices index climbing to 84.6%, its highest level since April 2022, and manufacturing employment remaining in contraction.

The report is another reminder that manufacturers are still moving, but they are doing it in a tougher cost environment. Demand is not the problem. The problem is the pile-on of inflation, energy costs, supply chain strain and policy uncertainty that makes it harder to plan, hire and invest.

“Ohio manufacturers have proven again and again that they can compete, grow and lead through difficult conditions,” said James Lee, OMA managing director of public policy services. “The strength in new orders is encouraging, but policymakers need to do their part by avoiding new costs and giving manufacturers the certainty they need to keep investing.” 5/11/2026