US factory activity contracted in April as the Institute for Supply Management’s manufacturing gauge fell 1.1 points to 49.2, while input prices rose 5.1 points to 60.9, the fastest pace since inflation peaked in 2022. Also, US job openings fell in March to the lowest level in three years while quits eased further. Michael McKee reports on Bloomberg Television.
For more on this story, please see: https://www.bloomberg.com/news/articles/2024-05-01/us-factory-activity-shrinks-with-price-gauge-highest-since-2022
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