Manufacturers reported the greatest improvement in overall business conditions since September 2014 in April. This was highlighted by the seasonally adjusted IHS Markit Flash U.S. Manufacturing Purchasing Managers’ Index (PMI) rising from 55.6 in March to 56.5.
Stronger growth in new orders drove a solid increase in the level of outstanding business at manufacturers. Robust client demand and signs of sustained pressure on capacities did not, however, lead to improved employment growth. The rate of job creation eased to an eight-month low as firms reportedly pushed for greater efficiency.