U.S. factory activity growth slows in April: Markit
Reuters
Published Apr 23, 2015 09:51AM ET
U.S. factory activity growth slows in April: Markit
NEW YORK, April 23 (Reuters) - - Growth in the U.S. manufacturing sector dipped more than expected in April, with factory activity showing the slowest momentum since January, according to an industry report released Thursday.
Financial data firm Markit said its preliminary U.S. Manufacturing Purchasing Managers' Index fell to 54.2 in April from the final March read of 55.7. Economists polled by Reuters had forecast the April figure would come in at 55.5.
A reading above 50 indicates growth in the sector.
"While growth has clearly slowed in 2015 compared to the impressive rate seen throughout much of last year, the goods-producing sector is by no means collapsing under the weight of the strong dollar, and fears of a sharp slowdown consequently look overplayed," said Chris Williamson, Markit's chief economist.
The index's flash output component fell from the final March read of 58.8 to 55.4, which was also the weakest since January.
The flash reading of the index measuring new orders also weakened in April, coming in at 55.4, compared with March's reading of 57.2.
Employment growth also weakened in April from March, Markit said, though the drop was more modest.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.