The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) in April was 50.2, improving one point from March, marking the first time the index was above 50 since October 2022. Manufacturers reported a rise in employment and output.
The PMI index comprises 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. IHS Markit and S&P Global merged in 2022. See S&P Global