The manufacturing Purchasing Managers' Index (PMI) fell to 53.7 in April from 54.3 in March. A PMI reading above 50 suggests growth in the manufacturing sector.
Output grew for the third month in a row in April, albeit at a marginal rate. Backlogs of work rose at the fastest pace in the survey history. The workforce increased for the eight months in a row in April. Suppliers' delivery time lengthened. Input price inflation rose in April and output prices increased.
New orders expanded for the fifth consecutive month in April and new export orders increased for the second strongest rate in over seven years. The 12-month outlook remained positive in April, albeit sentiment moderated to the weakest since November last year.
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