ISM Manufacturing PMI: Slipped Further Into Contraction In April

Summary

• The ISM manufacturing PMI came in at 48.7 in April, indicating a contraction in U.S. manufacturing for a second straight month.
• Demand and output weakened while input strengthened further, conditions that are not considered positive for economic growth.
• Prices' growth accelerated slightly due to tariffs, causing new order placement backlogs, supplier delivery slowdowns and manufacturing inventory growth.

Maks_Lab

By Jennifer Nash

The Institute for Supply Management (ISM) manufacturing purchasing managers' index (PMI) came in at 48.7 in April, indicating a contraction in U.S. manufacturing for a second straight month. The latest reading was above the forecast of 48.0.