Friday, December 2, 2022
HomeCommentaryManufacturing sector, overall economy contracted in April; PMI at 41.5% - talkbusiness.net

Manufacturing sector, overall economy contracted in April; PMI at 41.5% – talkbusiness.net

The Purchasing Managers’ Index (PMI) dropped to 41.5% in April, its lowest level since April 2009. A PMI over 50% indicates the manufacturing economy is expanding, but the sector contracted for the second month in a row. Three other indices also declined: new orders, production and employment. However, the supplier deliveries index and the inventories index both rose. The COVID-19 pandemic has left business executives pessimistic about the near term future. Some respondents to the survey expressed concern about their ability to continue operations.

Key Takeaways:

  • Both the Purchasing Managers’ Index and the overall economy have declined for the second month in a row.
  • All of the subindexes related to the PMI have been affected strongly by the coronavirus pandemic.
  • Experts also are pessimistic about the near future because of the coronavirus.

“The PMI shows the manufacturing sector contracted at a level not seen since April 2009”

Read more: https://talkbusiness.net/2020/05/manufacturing-sector-overall-economy-contracted-in-april-pmi-at-41-5/

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments