U.S. manufacturing contracted further in April while tariffs on imported goods were straining supply chains, keeping prices paid for inputs elevated.

Despite weak demand, inflation pressures persist, driven by tariffs, supply chain issues, and a weaker dollar, leading to rising input and output prices. Explore more details here.

Manufacturing PMI registered 48.7% in April, indicating contraction at a faster rate when compared to the March reading of 49%. “Of the five subindexes that directly factor into the Manufacturing PMI,