Factory sector activity in the US mid-Atlantic region shrank sharply in April, as trade tariffs began to bite, according to the results of a closely followed survey.
Source: Sharecast
The Federal Reserve Bank of Philadelphia's manufacturing sector index fell from a reading of 12.5 in March to -26.4 for April (consensus: 2.0).
A sub-index for new orders was especially weak, falling from 8.7 to -34.2, whilst another linked to the number of employees dropped from 19.7 to 0.2.
In parallel, a sub-index tracking the prices paid by companies edged up from 48,3 to 51.0.
-- More to follow --
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.