The Institute for Supply Management released its closely watched PMI reading for last month indicating that U.S. manufacturing softened across the board. The 52.8 reading, down 2.5 points from March, was reportedly below expectations of 55.0, although it still indicated growth in manufacturing (a reading above 50 indicates expansion). New Orders, Production, Employment, New Export Orders and Imports all fell. According to ISM, the report “reflect[ed] continued expanding business strength, bat at the softest levels since the fourth quarter of 2016.” See the full report here.
