The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) in April was 50, declining 1.9 points from March and ending the three-month increase. Manufacturers reported a decrease in new orders due to client hesitancy.
The PMI index is comprised of five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times, and stocks of raw materials. A reading above 50 indicates growth, while below represents a contraction. See S&P Global
