FX.co ★ U.S. Non-Manufacturing PMI Falls to 49.4 in April

In April 2024, the Institute for Supply Management's (ISM) Non-Manufacturing Purchasing Managers' Index (PMI) for the United States dropped to 49.4, indicating a contraction in the services sector. This figure is down from the previous month's reading of 51.4, which had shown slight growth. The updated data was released on May 3, 2024, highlighting a significant decline in business activity across non-manufacturing industries in the U.S. The decrease in PMI suggests challenges and potential slowdowns in the service sector, indicating a shift in economic conditions that could impact the overall growth trajectory of the country.