Markit PMI US April
  • Flash was 59.7
  • Prior was 58.8

The ISM report is due at the top of the hour.

Chris Williamson, Chief Business Economist at S&P Global, said:

“After a slow start to the year, which saw production growth almost stall, the manufacturing sector is starting the second quarter on a much stronger footing. Demand from consumers and businesses is proving encouragingly robust despite severe inflationary pressures, which intensified further during April.

“Both input cost and selling price inflation surged higher, the latter accelerating to a near-record rate, as firms faced rising energy prices, ongoing supplier-driven price hikes amid strained supply chains, and rising wage costs.

“In short, while the survey data add to indications that the pace of economic growth will improve in the second quarter after a lacklustre first quarter, the less welcome news is that elevated inflationary pressures show no signs of relenting."