US Manufacturing Activity Shrinks by the Most Since November
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US manufacturing activity shrank in April by the most in five months as lean order books and the repercussions from tariffs prompted the steepest output contraction since 2020.
The Institute for Supply Management’s factory gauge eased 0.3 point to 48.7, data out Thursday showed. The group’s production index stumbled more than 4 points to 44. Readings below 50 indicate contraction. Prices paid for inputs, however, accelerated slightly.