US Manufacturing Growth Holds Steady at Near 2-Year Low
The IHS Markit US Manufacturing PMI came in at 52.4 in April 2019, unchanged from the previous month's near two-year low and below market expectations of 52.8, a preliminary estimate showed.
4/18/2019 1:50:03 PM
Underlying data indicated that improved readings for output and new orders were generally offset by slower increases in employment and pre-production inventories.
The latest increase in new business was the quickest for three months. Nevertheless, the expansion was well below those seen this time last year, with foreign demand also remaining relatively muted. As a result, production volumes expanded at a slightly quicker, albeit still modest, pace.
Finally, inflationary pressures softened further across the manufacturing sector. The rate of input price inflation eased for the sixth successive month and was the weakest since July 2017. Smaller increases in costs were generally passed on to clients through a softer rise in factory gate prices.