The manufacturing activity in the United States declined in April, with the Purchasing Managers' Index (PMI), remaining below the neutral 50 mark and falling for the second month in a row, the Institute for Supply Management (ISM) said in its report published on Thursday.
The figure landed at 48.7 in the reported month, falling further from 49 in March. At the same time, the New Orders Index rebounded and fell at a slower pace to land at 47.2. The Production Index, on the other hand, fell at a more rapid rate to reach 44. The Employment Index increased to 46.5 from 44.7 in March, while staying below the neutral 50 mark.
'Demand and production retreated and destaffing continued, as panelists’ companies responded to an unknown economic environment. Prices growth accelerated slightly due to tariffs, causing new order placement backlogs, supplier delivery slowdowns and manufacturing inventory growth," ISM Manufacturing Business Survey Committee Chair Timothy Fiore said.
