June 1, 2023
ISM Manufacturing PMIIn April 2023, the ISM Manufacturing PMI in the United States improved to 47.1, rising from the previous month's three-year low of 46.3 and slightly surpassing the market consensus of 46.8. However, despite the increase, the latest reading indicated that economic activity in the manufacturing sector continued to contract for the sixth consecutive month. Factors such as higher borrowing costs and restricted credit availability affected business operations and heightened the risk of a recession this year.
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