The Markit Economics final April index of U.S. manufacturing decreased to a three-month low of 54.1 from 55.7 in March, the London-based group said Friday.
A reading above 50 for the purchasing managers’ measure indicates expansion. The median forecast in a Bloomberg survey of economists called for the index to hold at its preliminary April reading of 54.2. Estimates ranged from 54 to 56.
The group’s measure of orders decreased to 55.3 from 57.2 in the prior month. The gauge of factory production dropped to a four-month low.
“With manufacturing output growth slowing to the weakest seen so far this year and exports falling for the first time since November, the survey results raise worries that the dollar’s appreciation is hurting the economy,” Chris Williamson, chief economist at Markit, said in a statement.
The Markit measure is based on replies from about 85 percent to 90 percent of companies in a poll of more than 600 American manufacturers.