Mirroring reports of a broadly surging manufacturing sector, the current conditions component reached its all-time most expansive reading in April, hitting 89.5 points. The nearly 10-point increase from the previous month resulted in part from a drop in the share of participants who reported unchanged conditions, with additional impetus from having no respondents indicate worse conditions in April. Although the quantitative score was undoubtedly upbeat, comments suggested that some categories remained sluggish, while others faced supply constraints in trying to keep up with demand. 

Read the full report.