US manufacturing PMI slides; NAB expects bounce

01 May 2019

 

US purchasing managers' indices (PMIs) have been sliding since August 2018, albeit from elevated levels. After reaching a cyclical peak in September 2017, manufacturing PMI readings went sideways for a year before they started a downtrend. The latest reading has kept that downtrend intact. US manufacturing activity slowed in April to a rate last seen in October 2016. According to the Institute of Supply Management (ISM) April survey, its Purchasing...

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