As anticipated, the manufacturing activities took a hit across the United States for April 2020 with ISM Manufacturing Index melting to 41.5 from its March level of 49.1.
- The New Orders Index registered a decline of 15.1 percentage points from its March reading to stand at 27.1 per cent in April.
- However, the index performed better than the market expectation of 36.7.
- All the important components – production, new orders and employment collapsed and remained consistent with a deeper contraction than during the financial crisis.
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