US April S&P Global final manufacturing PMI 50.0 vs 49.9 prelim

• Prelim was 49.9
• Prior was 51.9

The ISM manufacturing report is due at the top of the hour.

Chris Williamson, Chief Business Economist at S&P
Global Market Intelligence, said:

“Business conditions stagnated in April, failing to
improve for the first time in four months and pointing to
a weak start to the second quarter for manufacturers.
Order inflows into factories fell for the first time since
December, meaning producers had to rely on orders
placed in prior months to keep busy.
“However, there are some encouraging signs. The drop in
orders appears to have been largely driven by reduced
demand for semi-manufactured goods – inputs produced
for other firms – as factories adjust their inventories of
inputs. In contrast, consumer goods producers reported
a further strengthening of demand, hinting that the
broader consumer-driven economic upturn remains
intact.
“Producers on the whole also seem confident enough
in the business outlook to continue adding to payroll
numbers at a pace that compares well with the average
seen over the past two years, investing further in
operating capacity.
“From an inflation perspective, it was also reassuring to
see prices charged for goods rise at a slower rate than
the 11-month high seen in March. The rate of increase
nevertheless remains elevated by historical standards
– and well above the average seen in the decade prior
to the pandemic – as firms continued to pass higher
commodity prices on to customers.”

This article was written by Adam Button at www.forexlive.com.