U.S. manufacturing contracted in April amid a decline in orders after briefly expanding in the prior month, while a measure of prices paid by factories for...
WASHINGTON - U.S. manufacturing contracted in April amid a decline in orders after briefly expanding in the prior month, while a measure of prices paid by factories for inputs approached a two-year high.
The ISM survey's forward-looking new orders sub-index decreased to 49.1 from 51.4 in March. Output at factories slowed, with the production sub-index slipping to 51.3 after jumping to 54.6 in the prior month.Despite weakening demand, inflation at the factory gate continued to heat up, suggesting that goods price disinflation could be close to running its course. Falling goods prices were the major driver of the moderation in inflation last year.
They have raised the policy rate by 525 basis points since March 2022. Financial markets have pushed back expectations of a rate cut this year to September from June. Rising layoffs and sluggish job growth are major signs the economy is already in a hard landing, one top forecaster says."We expect, in any case, that the Fed's communications after the FOMC meeting this week will have a uniformly hawkish tone," Macquarie said.OTTAWA — The Canadian economy lost momentum after a roaring start to the year, reinforcing economists' expectations that the Bank of Canada is on track to cut interest rates in the coming months.
Manufacturing PMI Goods Prices ISM The Institute For Supply Management Input Prices
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Test your knowledge of local plants and wildlife, with prizes up for grabs2024 City Nature Challenge is scheduled for April 26 to April 29
Read more »
Explore: Organ Crawl; Community Day at Maritime Museum; alpine and rock garden saleEvents: Organ Crawl on Saturday, April 20; Maritime Museum event on Thursday, April 18; Rock and alpine garden sale in Sidney on Sunday, April 21
Read more »
Gold market analysis for April 30 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Bitcoin April 29 daily chart alert - Bears work to start price downtrendThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold market analysis for April 29 - key intra-day price entry Levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold market analysis for April 26 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »