(S&PGlobal) The headline for the US Manufacturing PMI was 59.2 in April, an increase from 58.8 in March. The rate of growth was the quickest since September.
The improvement in manufacturing reflected a quicker uptick in output, which was the fastest for nine months. The growth saw an in new orders while there was an improvement in the delivery of materials.
Backlogs rose at the slowest pace since February last year, with firms continuing to hire to ease pressure on capacity.
Costs continued to rise, with input inflation rising at the sharpest in four months. The rate of the increase of selling prices was the quickest since October.
Manufacturing firms remained upbeat, with expectations of improved supply chain conditions and more hiring. Businesses still held high concerns of the geopolitical tensions and inflation, with the degree of positive sentiment falling to the lowest in six months.
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