The headline PMI fell to 42.8 in April from 44.3 in March, sinking further below the 50 mark that divides expansion from contraction and showing a weak start to the second quarter.
It was the lowest reading since last December and came
despite a Reuters poll forecast for a rise to 44.7.
A drop in new orders amid flagging demand was a key driver
of the deterioration, according to the survey, which also showed
one of the fastest decreases in new sales in the last three
years.
But cost burdens and input prices eased.
Companies reported a seventh straight month of job
reductions, the survey compilers said.
Month/Year 04/23 03/23 04/22
Purchasing Managers' Index 42.8 44.3 54.4
Output 46.2 46.7 50.8
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(Reporting by Jason Hovet; Editing by Hugh Lawson)
