U.S. manufacturing output close to stagnation in AprilStaff writer ▼ | May 3, 2016
April data indicated that U.S. manufacturers started the second quarter of 2016 with a renewed slowdown in production and new business growth.
USA Markit U.S. Manufacturing PMI
Adjusted for seasonal influences, the final Markit U.S. Manufacturing Purchasing Managers’ Index (PMI) registered 50.8 in April, down from 51.5 in March and only slightly above the 50.0 no-change threshold.
The latest reading was weaker than the average seen in Q1 2016 (51.7) and signalled the slowest improvement in overall business conditions for just over six-and-a-half years.
Output volumes were close to stagnation in April, with the latest survey pointing to the weakest rise since the current period of expansion began in October 2009.
Anecdotal evidence suggested that subdued client demand, uncertainty about the economic outlook and lower energy sector capital spending had all acted as a drag on manufacturing production in April. ■