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U.S. manufacturing index slumps to eleven-year low in April

Christian Fernsby |
Manufacturing activity in the U.S. continued to contract in the month of April, according to a report released by the Institute for Supply Management on Friday.

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Topics: U.S.   

The ISM said its purchasing managers index slumped to 41.5 in April from 49.1 in March, with a reading below 50 indicating a contraction in manufacturing activity.

The manufacturing index showed a notable decrease compared to the previous month but still came in above economist estimates for a reading of 36.9.

With the decline, the purchasing managers index dropped to its lowest level since hitting 39.9 in April of 2009.

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