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US April manufacturing PMI dips to lowest level since Sept 2009

by ChemOrbis Editorial Team - content@chemorbis.com
  • 25/04/2016 (18:06)
According to a flash data released by Markit Economics, the US’ manufacturing purchasing managers’ index (PMI) fell to the lowest levels seen since September 2009 in April. The April PMI declined to a reading of 50.8 following a final reading of 51.5 in March, missing economists’ initial estimates, which called for a reading of 52. Any reading above 50 indicates an expansion.

According to Markit, softer manufacturing output and new business growth as well as weaker employment were the main factors weighing on the headline PMI during April. The data showed that manufacturing employment posted the weakest rise since June 2013. Economists commented that the recent figures may signal that the US’ economic growth could weaken towards stagnation in the second quarter.

In the first quarter, the US economy expanded 0.7% on an annual basis.
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