Posted on : Wednesday 17th June 2020 05:14 PM
U.S. manufacturers expanded at a slower pace in April, as measures of new orders, production and employment each slipped.
The Institute for Supply Management, an association of purchasing managers, says that its manufacturing index fell to 52.8 last month, down from 55.3 in March. Readings above 50 point in direction of an extension in producing. The sector has been reporting development for 32 months.
ISM's survey of companies for the index is an indicator that economic advancement is likely to continue, even though companies raised considerations about delays at the border between the United States and Mexico and the tariffs that President Donald Trump imposed on Chinese imports.
This article is originally posted on manufacturing.net