Economy Still in High Growth  Mode Even as it Posts its Lowest April Index  

• PMI Composite in April 2016 slowed down a bit by 0.81 index point from March consistent with the declines for the same period in previous  years.  
• The PMI Composite index, at 55.27, was the lowest April index ever recorded since PMI Composite started in October 2010. PMI Services did not pick up as fast as it did in prior tracking periods and could not  pull up the composite average for April 2016. The successive lowest  monthly indices for 2016 were also reflected the annual business cycle since 2010.