U.S. Manufacturing Activity Falls To 11-Year Low
WASHINGTON, May 3 (NNN-AGENCIES) – Economic activity in the U.S. manufacturing sector plunged to an 11-year low in Apr, amid mounting COVID-19 fallout and weak global energy markets, the Institute for Supply Management (ISM) reported.
The Purchasing Managers’ Index (PMI) fell by 7.6 percentage points to 41.5 percent in Apr, the lowest since Apr, 2009. Any reading below 50 percent indicates the manufacturing sector is generally contracting.
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