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The IHS Markit’s Manufacturing PMI in the U.S. rose to 52.6 in its final release from 52.4 in March and came in above the market expectation of 52.4.  

Commenting on the data, “Although the PMI ticked higher in April, the survey remains consistent with manufacturing acting as a drag on the economy at the start of the second quarter, albeit with the rate of contraction easing,” Chris Williamson, Chief Business Economist at the IHS Markit said and explained:

“Historical comparisons indicate that the survey’s output gauge needs to rise above 53.5 to signal growth of factory production. As such, the data add to signs that the economy looks set to slow after the stronger than expected start to the year.”