A gauge of U.S. factories fell in April to the weakest level since late 2016, signaling that manufacturing headwinds extended into the second quarter as companies continue to confront uncertainty about trade.
The Institute for Supply Management index slumped to 52.8 from 55.3 the prior month, missing all estimates in Bloomberg’s survey while holding above the 50 level that signals expansion. Three of five components declined, including new orders, employment and production, according to the report Wednesday.
