US Manufacturing PMI Plummeted in April

(6 May 2020)  The US manufacturing PMI plummeted to 41.5 in April 2020, the lowest level in 11 years. New orders experienced the largest single-month drop since 1950 to 27.1 (from 42.2 in March) while production fell sharply to 27.5 (from 47.5 in March). The US employment index also declined, reflecting around 30 million claims for unemployment benefits over the last few weeks. Out of 18 industries, 16 have reported decline; only the paper and food products industries showed growth in April.