US manufacturing contracts in April, but pulls off three-year low

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The US factory output contracted for sixth straight month in April, but pulled off a three-year low as new orders improved slightly and employment rebounded...

The Institute for Supply Management (ISM) said on Monday that its manufacturing PMI rose to 47.1 last month from 46.3 in March, which was the lowest reading since May 2020..

The PMI remained below the 50 threshold for the sixth straight month, which indicates contraction in manufacturing..

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