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.
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.tags:
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