{"id":594582,"date":"2026-05-01T14:22:16","date_gmt":"2026-05-01T14:22:16","guid":{"rendered":"https:\/\/buglecall.org\/?p=594582"},"modified":"2026-05-01T14:22:16","modified_gmt":"2026-05-01T14:22:16","slug":"manufacturing-ism-misses-as-prices-surge-most-since-april-2022-employment-slides-to-worst-print-of-2026-2","status":"publish","type":"post","link":"https:\/\/buglecall.org\/?p=594582","title":{"rendered":"Manufacturing ISM Misses As Prices Surge Most Since April 2022, Employment Slides To Worst Print Of 2026"},"content":{"rendered":"

Manufacturing ISM Misses As Prices Surge Most Since April 2022, Employment Slides To Worst Print Of 2026<\/span><\/p>\n

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Amid the fog of war and fading ‘hard’ data, the final April S&P Global Manufacturing PMI printed 54.5, a small gain from the flash 54.0 print, and higher than the 52.3 February final print, although it came with a warning <\/a>from\u00a0Chris Williamson, Chief Business Economist at S&P Global Market Intelligence:<\/p>\n

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\u201cThe surge in manufacturing activity in April is not the cause for cheer that at first glance it suggests. A key driving force behind the upturn is the need for companies to get ahead of further feared price rises and supply shortages, providing a short-term boost that could fade in the coming months as headwinds to the economy continue to build…\u00a0<\/strong>employment has fallen as firms grow increasingly worried over the need to reduce cost overheads amid an environment of rising raw material prices, while selling prices have jumped higher as producers seek to protect their margins.<\/em><\/p>\n<\/blockquote>\n

There was some good news:\u00a0\u201cMore encouragingly, business expectations for output in the year ahead have improved, partly reflecting hopes that the US will be less affected by the war than previously feared, and less than other economies, as well as reduced concerns over the impact of tariffs given the recent Supreme Court ruling. <\/strong>However, some of these improved expectations of future production gains reflected a reaction to better than anticipated order book inflows in April, which may prove to be a chimera as the stock building boost fades.\u201d<\/em><\/p>\n

Shortly after, the\u00a0ISM Manufacturing PMI published its April number which remained unchanged at 52.7, matching the highest since August 2022, and missing estimates of an increase to 53.2<\/p>\n

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However, a look under the hood reveals <\/a>that like last month, there was continued deterioration in the core components:\u00a0Under the hood, Prices Paid continued to rise dramatically<\/strong> while New Orders and Employment dipped again – another indication that stagflation remains the biggest risk for the economy.<\/strong><\/p>\n