- The Manufacturing Purchasing Managers Index (PMI) captures business conditions in the manufacturing sector.
- Readings above 50 imply the economy is expanding while readings below 50 imply economic contraction.
- Manufacturing PMI decreased to 60.7 in April from 64.7 in March.
- The 2.03 loss exceeded the consensus among economists of a 0.3 gain.
- This figure indicates expansion in the overall economy for the eleventh month in a row.
- The Right Facts will continue to monitor manufacturing PMI.