Economic Buzz: US ISM Manufacturing Growth In April Slows

3 May 2022 , 08:48 AM

Growth in US manufacturing activity slowed in the month of April, according to a report released by the Institute for Supply Management on Monday. The ISM said its manufacturing PMI fell to 55.4 in April from 57.1 in March. While a reading above 50 still indicates growth in the sector. The unexpected decrease by the headline index came as the employment index slumped to 50.9 in April from 56.3 in March. The drop by the PMI also came as the new orders index edged down to 53.5 in April from 53.8 in March, while the production index dipped to 53.6 from 54.5. The report showed the prices index also fell to 84.6 in April from 87.1 in March, indicating a slowdown in the pace of price growth.

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