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US industrials growth dips to slowest since August 2016

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Christian Fernsby |
US manufacturing
America   April data signalled a slowdown in industrials output growth

US Sector PMI indices are compiled from responses to questionnaires sent to purchasing managers in IHS Markit's US manufacturing and services PMI survey panels, covering over 1,000 private sector companies.

Indices are available for the basic materials, consumer goods, consumer services, financials, healthcare, industrials and technology sectors.

April data signalled a slowdown in industrials output growth, according to the US Sector PMI.

The industrials sector – which indicates construction material and machinery equipment manufacturers, and commercial and professional service providers – slipped down the rankings table and registered only a marginal expansion in production.

The upturn was the slowest since August 2016.

Similarly, consumer goods firms recorded a softer rise in output during April.

The rate of increase was broadly in line with that seen in March and solid overall, but slipped to a 13-month low.

The consumer services, financials and healthcare sectors also noted weaker upturns in business activity.

The former indicated the slowest increase in output since last September.

Although still second in the rankings table, healthcare firms signalled a notable slowdown following two marked monthly expansions.

In contrast to back-to-back contractions in February and March, the basic materials sector recorded a renewed rise in output during April.

Finally, the technology sector topped the rankings table, with the rate of output growth rebounding from March's recent low.

The upturn was strong overall.

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