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US manufacturing grows moderately in April

by ChemOrbis Editorial Team -
  • 04/05/2016 (16:33)
According to data from the Institute for Supply Management (ISM), manufacturing activities in the US expanded at a slower pace in April due to a slowdown in new orders. Still, a jump in export orders and diminishing inventory overhang give signals of a possible improvement in the manufacturing sector for the upcoming period. An ISM index for national factory activity fell to a reading of 50.8 in April from March’s reading of 51.8. Any reading above 50 represents an expansion.

Weak export growth stemming from a strong dollar, aggressive spending cuts in the energy sector and sluggish global demand dragged down manufacturing activities. Factory orders fell as companies attempted to reduce inventory overhang, which resulted in more moderate growth in the manufacturing sector.
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