On Wednesday, the Institute for Supply Management (ISM) disclosed a report indicating a slight decline in U.S. manufacturing activity for the month of April.
In the month of March, the ISM's manufacturing Purchasing Managers' Index (PMI) was documented at 50.3, and it reduced to 49.2 in April. A score below 50 signifies a contraction in manufacturing activities - this was what economists had predicted, with estimations pointing towards a slight fall to 50.0.
This marginal decline in the index follows a period of slight growth in March, which in turn had succeeded sixteen straight months of contraction.
Chair of the ISM Manufacturing Business Survey Committee, Timothy R. Fiore, underlines that despite the deceleration of demand improvement, the output is positive, and inputs continue to be favourable.
