Economic activity in the U.S. manufacturing sector expanded at a faster-than-expected pace in April, the Institute for Supply Management said Tuesday.

The Tempe, Arizona-based trade group, said its manufacturing index registered 54.7 in April, the highest in 11 months. That reading was up from 50.9 in March and exceeded the 51 expected by analysts.

A reading above 50 indicates growth for the manufacturing sector, while a reading below 50 indicates contraction.

The expansion in the sector pushed up prices for commodities including gasoline, aluminum, corn, diesel fuel and steel. The Institute's price index, which indicates prices paid by manufacturers, surged to 73 in April from 65.5 in the previous month.

The manufacturing index has bounced above and below 50 for several months. It showed contraction in November, rebounded in December, fell back again in January, then expanded modestly in February and in March.

The Institute is a trade association representing approximately 40,000 supply management professionals.

Source: Xinhua