US manufacturing sector grew at its slowest pace in six months
The US manufacturing sector’s growth was at its worst in six months during April.
According to Research Firm Market, the Purchasing Manager’s Index fell from 54.6 to 52, slightly above the 50 level, marking the line between growth and contraction.
Chris Williamson, chief economist at Markit, said the findings suggested output growth was slowing sharply in the second quarter.
“While this week’s first quarter GDP numbers may… bring some brighter news on the economy, the picture looks to have already begun to darken again, with GDP growth set to weaken in the second quarter.”
Figures due out on Friday are expected to show the US economy grew at an annualised pace of 3% in the first three months of the year.
Similar surveys released on Tuesday covering China and the eurozone also showed economic activity weakening.
Related Articles
Iran crisis: US to apply fresh oil sanctions
US President Barack Obama has approved the introduction of fresh sanctions on buyers of Iranian oil. In a statement, Mr
Iran’s rial plummeted to an all-time low against the US dollar
The devaluation of the Iranian currency, rial, hits its lowest against the dollar, registering a 21% drop in a span
Manmohan Singh: Time to Revive the once Rosy Economy of India
Indian PM Manmohan Singh called on his officials to decide on measures that would help revive India’s economic growth. India’s
