The April purchasing manager’s index for manufacturing hit 55.4.
Consensus was for a reading of 55.4, unchanged the flash reading earlier this month. April’s print comes in just a notch below the 55.5 figure from March.
Output increased at the steepest pace since March 2011. Input cost growth moderated moderated to the weakest rate since May of last year. Job growth slowed.
“…Although GDP may bounce back in the second quarter, the updated manufacturing numbers are not strong enough to offset the softer trend in the flash services PMI, suggesting that the underlying growth rate of the economy has weakened since late last year,” Markit Economics’ Chris Williamson said in a release. “The manufacturing sector continues to benefit from rising domestic demand, but weak overseas demand continues to mean export performance disappoints, with only modest growth of new export orders recorded again in April.”
Here’s the scorecard:
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