16 October
Manufacturing activity in US hit 5-mouth low due to Trump’s tariffs
According to Yahoo Finance analytics, in April, manufacturing activity in the United States reached the minimum values for the last 5 months. The reason for such changes was the introduction of trade tariffs by US President Donald Trump.
The Institute for Supply Management’s (ISM) manufacturing PMI fell to 48.7 in April. A value below 50 indicates a decline in the manufacturing sector of the economy. At the same time, the index for new manufacturing orders increased to 47.2, exceeding the March figure of 45.2.
According to ISM Chairman Timothy Fiore, recent hikes in manufacturing input costs, along with declining domestic demand, are having a negative impact on the state's economic development outlook. At the same time, CEOs are losing the ability to plan their business strategies in the face of ever-changing tariff conditions, as noted by Thomas Simons from Jefferies.
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