Manufacturing activity across the country weakened for the second month in a row, according to the Institute for Supply Management’s (ISM’s) Manufacturing PMI which fell to 48.7 (a reading above 50 indicates expansion). “In April, U.S. manufacturing activity slipped marginally further into contraction after expanding only marginally in February. Demand and output weakened while input strengthened further, conditions that are not considered positive for economic growth,” according to ISM, which went on to say “Demand and production retreated and destaffing continued, as panelists’ companies responded to an unknown economic environment.” See the full report here.
