Manufacturing index climbs for the first time in months, amid other positive economic developments.
Despite uncertain and conflicting reports from economists and various news outlets, the most recent PMI reports are casting hopeful glimmers on the economic horizon.After a dormant period starting in October, the PMI’s growth jumpstarted in April—ticking up to 50.2 from 47.1 in March.
As we start the second half of the year, economic uncertainty still looms. However, this unprecedented index increase indicates that a period of modest growth is on the way.
This tempered outlook comes after recent developments in inflation trends— which have dipped below the 5% mark—and the Federal Reserve’s move to end rate hikes this year.
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