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Economic Buzz: US Manufacturing Growth Slows In April
04-May-21   09:19 Hrs IST

US manufacturing PMI slid to 60.7 in April after jumping to a more than 37-year high of 64.7 in March, according to a report released by the Institute for Supply Management on Monday. The unexpected pullback by the headline index came as the production index tumbled to 62.5 in April from 68.1 in March and the new orders index fell to 64.3 from 68.0. The employment index also slumped to 55.1 in April from 59.6 in March, indicating a slowdown in the pace of job growth in the manufacturing sector. Meanwhile, the report showed the prices index jumped to 89.6 in April from 85.6 in March, reaching its highest level since July of 2008.

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