All the day’s economic and financial news, including a new healthcheck on the world’s factory sectors
- Latest: US factory growth hits six-month low
- Britain’s manufacturing growth slows
- Eurozone PMI highest since April 2011
- Eurozone unemployment rate falls again
- German DAX on track for record closing high
- Asian PMIs show solid growth
It’s official, America’s manufacturing sector slowed last month.
The Institute of Supply Management (ISM) just released its own report, and like Markit’s rival data it shows that the growth rate dipped.
The first of two healthchecks on America’s factory sector just arrived, and it’s a little disappointing.
Markit’s monthly US manufacturing PMI has fallen by nearly one whole point, from 54.2 to 53.3. That’s the lowest reading since September 2016, signalling that growth has hit a six-month low.
“The post-election resurgence of the manufacturing sector seen late last year is showing signs of losing steam. Output growth slowed to a six-month low in March, optimism about the outlook has waned and hiring has slowed accordingly.
“While the survey data suggest that the goods producing sector enjoyed a relatively good first quarter on the whole, the loss of momentum seen in February and March bodes ill for the second quarter.