US manufacturing PMI expected to hit 7-month high in April

By Tuba Sahin

ANKARA (AA) - S&P Global said on Friday its flash US manufacturing PMI climbed to a 7-month high of 59.7 in April.

The figure was up from 58.8 in March, signaling a marked improvement in operating conditions across the manufacturing sector.

Faster rises in output and new orders in April pushed the main reading up, read a statement.

The US services flash PMI fell to 54.7 in April from 58.0 in March.

The rate of activity growth eased to the slowest since January’s omicron-induced knock to demand, the statement said.

“Many businesses continue to report a tailwind of pent up demand from the pandemic, but companies are also facing mounting challenges from rising inflation and the cost of living squeeze, as well as persistent supply chain delays and labor constraints,” said Chris Williamson, chief business economist at S&P Global.