U.S. Manufacturing Sector Contracted Again In April
On May 1, the Institute for Supply Management released its Manufacturing PMI report for April. The report indicated that ISM Manufacturing PMI increased from 46.3 in March to 47.1 in April, compared to analyst consensus of 46.8.
ISM commented: “The U.S. manufacturing sector contracted again; however, the Manufacturing PMI improved compared to the previous month, indicating slower contraction. The April composite index reading reflects companies continuing to manage outputs to better match demand for the first half of 2023 and prepare for growth in the late summer/early fall period.”
Earlier, traders had a chance to take a look at the final reading of the S&P 500 Global Manufacturing PMI report for April. The report showed that S&P 500 Global…
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