U.S. manufacturing growth in April slowest since 2016 election: ISM
The numbers: American manufacturers expanded in April at the slowest pace since President Trump was elected, reflecting a broad slowdown in a key segment of the economy that’s acting as a headwind on U.S. growth.
Readings over 50% indicate more companies are expanding instead of shrinking, but the rate of growth is the weakest since October 2016. Trump was elected less than a month later. Big picture: Manufacturers aren’t growing as fast as they were last summer, but they are growing. The pace of expansion is likely to remain on the milder side, however, until U.S. and China resolve festering trade tensions and a weak global economy starts to improve.
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