“In April, U.S. manufacturing activity remained in expansion territory, growing at the same pace as the month before,” according to the most recent PMI report from the Institute for Supply Management. It’s the fourth month in a row that national manufacturing activity, as measured by the PMI, has expanded after an extended contraction from 2024-2025. Nevertheless, challenges remain as 69% of respondents’ comments were negative with 47% citing the war with Iran and 18% referencing tariffs. See the full report here.”
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