April saw a dip in manufacturing, but Bloomberg says it's nothing to fret about. They reported, "Even with the April decline, the main index is close to the 57.9 average since January 2017 and is consistent with solid-but-moderating activity." However, backlog amounts are high and businesses don't seem to be keeping up with demand well. Tariffs and energy costs may also be taking a toll.
U.S. manufacturing expanded last month at the slowest pace since July, while prices paid for materials continued to accelerate amid supply constraints and tariff concerns, data from the Institute for Supply Management showed Tuesday. Read More