April saw the U.S. economy lose steam, according to recent S&P surveys, with businesses experiencing a downturn in new orders and a cutback in employment—the first since the pandemic began. The manufacturing purchasing managers index (PMI) dropped to a four-month low of 49.9, slipping below the growth threshold from 51.9 in March. Similarly, the services PMI decreased to 50.9 from 51.7, marking a five-month low.
Posted: 2024-04-23 15:54:11.000000