The business activity in the US manufacturing sector contracted in April, with the ISM Manufacturing PMI dropping to 49.2 from 50.3 in March.
ISM Manufacturing PMI fell into contraction territory in April. US Dollar Index fluctuates in its daily range above 106.00. This reading came in below the market expectation of 50.0. The Employment Index of the PMI survey improved to 48.6 from 47.4 in the same period, while the New Orders Index fell to 49.1 from 51.4. Finally, the Prices Paid Index, the inflation component, rose sharply to 60.9 from 55.8.
Commenting on the survey's findings, the USmanufacturing sector dropped back into contraction after growing in March, the first time since September 2022 that the sector reported expansion, saidTimothy R. Fiore, Chair of the Institute for Supply Management Manufacturing Business Survey Committee. The Prices Index moved further upward into strong expansion territory, as commodity driven costs continue to climb. Imports continued to grow, at a slower rate in April, Fiore added.
PMI Economicindicator Unitedstates
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD drops after strong US ISM Manufacturing PMI dataThe Pound Sterling slumps in the mid-North American session, as robust US economic data could dent the Federal Reserve’s intentions to cut rates.
Read more »
US ISM Manufacturing PMI improves to 50.3 in March vs. 48.4 expectedBusiness activity in the US manufacturing sector expanded at a modest pace in March, with the ISM Manufacturing PMI rising to 50.3 from 47.8 in February.
Read more »
Eurozone Preliminary Manufacturing PMI drops to 45.6 in April vs. 46.5 expectedThe Eurozone manufacturing sector activity contraction unexpectedly deepened while the services sector continued to expand in April, according to the data from the HCOB's latest purchasing managers index survey released on Tuesday.
Read more »
China's NBS Manufacturing PMI drops to 50.4 in April vs. 50.3 expectedChina’s official Manufacturing Purchasing Managers' Index (PMI) fell in April, coming in at 50.4, as against the 50.8 expansion in March, according to the latest data released by the National Bureau of Statistics (NBS) on Tuesday.
Read more »
China manufacturing activity edges past estimates in April- PMIChina manufacturing activity edges past estimates in April- PMI
Read more »
China's Caixin Manufacturing PMI improves to 51.4 in April vs. 51.0 expectedChina's Caixin Manufacturing Purchasing Managers' Index (PMI) rose to 51.4 in April, compared to the expansion of 51.1 seen in March, according to the latest data released on Tuesday.
Read more »