US manufacturing rises at slowest pace in 6 months
Source: Agencies |
April 24, 2013, Wednesday
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Print Edition
Print Edition
US manufacturing grew in April at its most sluggish pace in six months as demand from domestic customers fell, suggesting the American economy was losing momentum in the second quarter, a survey showed yesterday.
Financial data firm Markit said its "flash," or preliminary, Manufacturing Purchasing Managers' Index fell to 52 this month from 54.6 in March. That was the slowest reading since October 2012.
Output slipped to 53.6 from 56.6, its weakest rate of growth since November. While new export orders rose, demand at home increased at its slowest pace in six months, with the new orders component coming in at 51.8 after hitting 55.4 last month.
Financial data firm Markit said its "flash," or preliminary, Manufacturing Purchasing Managers' Index fell to 52 this month from 54.6 in March. That was the slowest reading since October 2012.
Output slipped to 53.6 from 56.6, its weakest rate of growth since November. While new export orders rose, demand at home increased at its slowest pace in six months, with the new orders component coming in at 51.8 after hitting 55.4 last month.
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