Economic Report: U.S. manufacturers battle highest prices since 2011 and other bottlenecks, ISM finds

Bloomberg News/Landov
An employee pulls a crucible of molten glass from a furnace at the Corning in New York. Manufacturers in the U.S. are growing rapidly, but they are also paying more for supplies in another sign of rising inflation.

The numbers: American manufacturers grew at a slower pace in April, hindered by the highest prices since 2011 for raw materials such as steel as well as supply and labor shortages, a survey of executives found.

The Institute for Supply Management said its manufacturing index fell to 57.3% last month from 59.3% in December. Economists surveyed by MarketWatch had forecast the index to total 58.7%.

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