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Halifax Regional Police release Dartmouth suspect’s name and photo | SaltWire #news #novascotiaWASHINGTON - 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. The survey's measure of prices paid by manufacturers shot up to 60.9, the highest reading since June 2022, from 55.8 in March. With price pressures picking up in the first quarter, the surge in input costs is unlikely to be welcomed by Federal Reserve officials as they wrap up their two-day policy meeting.
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.
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