Financial and business news from Bulgaria

Industrial production in the U.S. declined in April

Industrial production in the U.S. declined again in April, a victim of the economic downturn triggered by the coronavirus outbreak, the Associated Press reported.
The Institute for Supply Management, bringing together supply managers, reported today that its manufacturing index slipped to 41.5 last month from 49.1 in March. A level below 50 means shrinking the sector.

The news is bad in all directions - production, new orders, appointments and export orders all declined in April at a faster rate than in March.

Economists, however, expected a stronger downturn, BT.The production index has seen a decline in seven of the past nine months.

President Donald Trump's trade war with China has led to a rise in costs and has spawned uncertainty that has paralyzed decisions on investment.

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