FX.co ★ US Private Sector Growth Lowest in 16 Months

In April 2025, the S&P Global Flash US Composite PMI decreased to 51.2 from 53.5 in March, indicating the most sluggish growth in private sector activity over the past 16 months. The services sector experienced a slowdown, declining from 54.4 to 51.4, whereas the manufacturing sector witnessed a slight improvement, moving from 50.2 to 50.7. Business confidence regarding the upcoming year sank to one of its lowest levels since the onset of the pandemic. Concurrently, there was a notable uptick in the prices charged for both goods and services, marking the steepest climb in over a year, with manufactured goods particularly impacted due to tariffs. Furthermore, the expansion of business activity in the service sector decelerated significantly, although there was a marginal increase in new orders at factories. Employment levels, however, rose.