Markit’s preliminary U.S. manufacturing PMI survey is out.
The headline index slipped to 55.4 in April from 55.5 in March.
Economists had estimated the number would climb to 56.0.
Any reading above 50 signals growth, which means the numbers are still strong.
Here are the key points via Markit:
- Stronger increases in output and new orders
- Staffing levels rise for tenth month running
- Input cost inflation slowest since May 2013
“Manufacturers reported a solid start to the second quarter, with output growing at its fastest pace for over three years,” noted Markit’s Chris Williamson. “With manufacturing acting as a good bellwether of the rest of the economy, the survey bodes well for further robust economic growth in the second quarter.
“Companies are taking on staff to build operating capacity in the face of an increasingly favourable outlook. The April survey recorded ongoing job creation in the region of 10-15k per month in the goods producing sector.”