FX.co ★ US Manufacturing PMI Jumps to Near Four-Year High

The S&P Global US Manufacturing PMI rose to 54.0 in April 2026, up from 52.3 in March and beating market expectations of 52.5, according to preliminary data. This was the strongest improvement in factory operating conditions since May 2022, underpinned by the fastest production growth in four years and the quickest increase in new orders since May 2022. Input inventories also supported the expansion, edging higher at their fastest pace since January. Supplier delivery times lengthened markedly—the most since August 2022—thereby lifting the PMI reading, although some of these delays reflected supply disruptions linked to the Middle East conflict rather than stronger demand for vendors’ services. The only drag on the index came from employment, which declined for the first time since July 2025.