FX.co ★ US Manufacturing Sector Grows Marginally in April: S&P Global

The S&P Global US Manufacturing PMI for April 2025 was adjusted downward to 50.2, consistent with March's figure, yet falling short of the preliminary estimate of 50.7. This reading indicates a minimal expansion within the manufacturing sector. Notably, output decreased for the second consecutive month, despite new orders climbing for the fourth month in a row, primarily driven by domestic demand. Conversely, new export orders experienced their steepest decline since November due to pressures associated with tariffs. On the inflationary front, there was a slight easing in input cost growth compared to March’s peak of two-and-a-half years, while the rise in output prices accelerated to its fastest rate since early 2023, as companies aimed to safeguard profit margins. Business confidence dipped to its lowest point since the previous June, influenced by concerns regarding supply chain disruptions and increasing costs associated with tariffs.