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US April composite PMI at 7-month low

by ChemOrbis Editorial Team -
  • 25/04/2017 (15:38)
According to data from Markit IHS, US composite PMI in April indicated a slowdown in the private sector output growth, which stood at the lowest pace of seven months. US April composite PMI was reported at 52.7 in April after a reading of 53 in March. The slowdown was driven by a weakening both in the service economy and in manufacturing sectors.

The data showed the private sector payroll numbers were at the weakest of seven years as the number of staff hired by service providers eased when compared to the previous month. The data also showed that the operating margins decreased in April due to input price inflation reaching the highest level since June 2015.

The services PMI indicated only a moderate growth in new business in April. Poor demand as well as lower volumes of incomplete work caused only a limited number of staff to be hired in April. The slight rise in employment was the weakest recorded since July 2010.
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