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US April manufacturing PMI at 7-month low

by ChemOrbis Editorial Team - content@chemorbis.com
  • 04/05/2017 (15:02)
According to data from Markit IHS, US manufacturing sector expanded at the lowest pace of seven months. US April PMI was reported at 52.8 after a reading of 53.3 in March. This slowdown was driven by weaker output and new business growth as well as strong cost pressures on the manufacturing sector and increasing rate of input price inflation in April.

The data showed that new orders also increased at the slowest pace since September 2016 due to domestic clients’ cautious spending while the slower growth of total new work caused the purchasing activity to retreat to its weakest level since the same period.
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