05262020Tue
Last updateTue, 26 May 2020 2pm

Manufacturing & The Economy

U.S. Manufacturing Decline May Have Peaked in April

Manufacturers registered a further substantial deterioration in operating conditions midway through the second quarter, as the IHS Markit Flash U.S. Manufacturing Purchasing Managers’ Index posted 39.8 in May, up from 36.1 at the start of the second quarter.

Driving the deterioration were significant contractions in production and new orders, as businesses slowly returned to work amid challenging domestic and foreign demand conditions. The rates of reduction were among the most marked since the depths of the financial crisis.

Manufacturers were still concerned as to the purchasing power of their clients following the pandemic, with many continuing to reduce their output charges in the hope of boosting sales amid a second monthly decline in input costs.

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