The modest drop back in the ISM manufacturing index to 50.8 in April, from 51.8, is a bit disappointing, but that April figure is still the second highest reading in the past eight months. At its current level, the index is consistent with GDP growth of about 1.5% although, assuming the service sector fares better, actual GDP growth should be nearer 2% this year.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.