{"id":430096,"date":"2026-05-04T16:01:00","date_gmt":"2026-05-04T09:01:00","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/2026\/05\/us-sp-global-manufacturing-pmi-for-april-54-5-versus-52-3-last-month\/"},"modified":"2026-05-04T16:01:00","modified_gmt":"2026-05-04T09:01:00","slug":"us-sp-global-manufacturing-pmi-for-april-54-5-versus-52-3-last-month","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/2026\/05\/us-sp-global-manufacturing-pmi-for-april-54-5-versus-52-3-last-month\/","title":{"rendered":"US S&amp;P Global manufacturing PMI for April 54.5 versus 52.3 last month"},"content":{"rendered":"<div>\n<ul>\n<li>Prior month 52.3 last month.<\/li>\n<\/ul>\n<p>Summary of the details from the report<\/p>\n<ul data-start=\"68\" data-end=\"1607\">\n<li data-section-id=\"1jl4024\" data-start=\"68\" data-end=\"151\">PMI (Headline): 54.5 (vs 52.3 prior) \u2192 strongest expansion since May 2022<\/li>\n<li data-section-id=\"1fy6y01\" data-start=\"153\" data-end=\"329\">New Orders:\n<ul data-start=\"175\" data-end=\"329\">\n<li data-section-id=\"28zx3a\" data-start=\"175\" data-end=\"212\">Strong increase (4-year high)<\/li>\n<li data-section-id=\"1uupsau\" data-start=\"215\" data-end=\"255\">\nDriven mainly by domestic demand<\/li>\n<li data-section-id=\"1wklgd9\" data-start=\"258\" data-end=\"329\">Exports weak (down for 11 straight months; tariffs + geopolitics)\n<\/li>\n<\/ul>\n<\/li>\n<li data-section-id=\"4uce81\" data-start=\"331\" data-end=\"478\">Output (Production):\n<ul data-start=\"362\" data-end=\"478\">\n<li data-section-id=\"sowa57\" data-start=\"362\" data-end=\"409\">Sharp rise (strongest since April 2022)<\/li>\n<li data-section-id=\"1t18bud\" data-start=\"412\" data-end=\"478\">\nLargely tied to inventory\/stock building, not organic demand\n<\/li>\n<\/ul>\n<\/li>\n<li data-section-id=\"1jir83d\" data-start=\"480\" data-end=\"654\">Inventories:\n<ul data-start=\"503\" data-end=\"654\">\n<li data-section-id=\"89f7g1\" data-start=\"503\" data-end=\"561\">Finished goods: Increased (first rise in 3 months)\n<\/li>\n<li data-section-id=\"ctxct3\" data-start=\"564\" data-end=\"610\">Pre-production inputs: Slight increase\n<\/li>\n<li data-section-id=\"1uoih4e\" data-start=\"613\" data-end=\"654\">\nBroad theme = defensive stockpiling<\/li>\n<\/ul>\n<\/li>\n<li data-section-id=\"1b3hvae\" data-start=\"656\" data-end=\"789\">Purchasing Activity:\n<ul data-start=\"687\" data-end=\"789\">\n<li data-section-id=\"1l3itau\" data-start=\"687\" data-end=\"722\">Surged (fastest in 4 years)<\/li>\n<li data-section-id=\"tjl6wx\" data-start=\"725\" data-end=\"789\">\nFirms buying ahead of price increases + supply disruptions<\/li>\n<\/ul>\n<\/li>\n<li data-section-id=\"s03z11\" data-start=\"791\" data-end=\"955\">Supply Chains \/ Delivery Times:\n<ul data-start=\"833\" data-end=\"955\">\n<li data-section-id=\"totuul\" data-start=\"833\" data-end=\"869\">Worsened (longer lead times)<\/li>\n<li data-section-id=\"by2z7p\" data-start=\"872\" data-end=\"918\">\nMost significant delays since Aug 2022<\/li>\n<li data-section-id=\"yuqldk\" data-start=\"921\" data-end=\"955\">\nDriven by material shortages<\/li>\n<\/ul>\n<\/li>\n<li data-section-id=\"1vsso4q\" data-start=\"957\" data-end=\"1078\">Backlogs of Work:\n<ul data-start=\"985\" data-end=\"1078\">\n<li data-section-id=\"125s6jp\" data-start=\"985\" data-end=\"1010\">Increased sharply<\/li>\n<li data-section-id=\"ayduzt\" data-start=\"1013\" data-end=\"1078\">\nReflects strong orders + supply constraints + reduced labor<\/li>\n<\/ul>\n<\/li>\n<li data-section-id=\"1tnwo99\" data-start=\"1080\" data-end=\"1201\">Employment:\n<ul data-start=\"1102\" data-end=\"1201\">\n<li data-section-id=\"1x6b92n\" data-start=\"1102\" data-end=\"1143\">Declined (first drop in 9 months)<\/li>\n<li data-section-id=\"1frsbj4\" data-start=\"1146\" data-end=\"1201\">\nFirms not replacing workers due to cost pressures\n<\/li>\n<\/ul>\n<\/li>\n<li data-section-id=\"ofwzfe\" data-start=\"1203\" data-end=\"1297\">Input Costs:\n<ul data-start=\"1226\" data-end=\"1297\">\n<li data-section-id=\"ug7m9q\" data-start=\"1226\" data-end=\"1264\">Rising sharply (10-month high)<\/li>\n<li data-section-id=\"1lh7xko\" data-start=\"1267\" data-end=\"1297\">\nInflation still elevated<\/li>\n<\/ul>\n<\/li>\n<li data-section-id=\"c23m74\" data-start=\"1299\" data-end=\"1430\">Output Prices (Charges):\n<ul data-start=\"1334\" data-end=\"1430\">\n<li data-section-id=\"ledt0u\" data-start=\"1334\" data-end=\"1360\">Increased strongly<\/li>\n<li data-section-id=\"sni51\" data-start=\"1363\" data-end=\"1430\">\nFirms passing through higher costs (largest rise since June 2025)\n<\/li>\n<\/ul>\n<\/li>\n<li data-section-id=\"8u17st\" data-start=\"1432\" data-end=\"1607\">Business Confidence (Outlook):\n<ul data-start=\"1473\" data-end=\"1607\">\n<li data-section-id=\"cn8565\" data-start=\"1473\" data-end=\"1514\">Improved (highest since Feb 2025)\n<\/li>\n<li data-section-id=\"135h1vs\" data-start=\"1517\" data-end=\"1607\">\nBased on expectations of:<\/p>\n<ul data-start=\"1551\" data-end=\"1607\">\n<li data-section-id=\"fxsmwl\" data-start=\"1551\" data-end=\"1577\">\nLess severe war impact\n<\/li>\n<li data-section-id=\"1v2ux47\" data-start=\"1582\" data-end=\"1607\">\nEasing tariff pressures\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p data-start=\"1614\" data-end=\"1632\">Bottom line:<\/p>\n<ul data-start=\"1633\" data-end=\"1782\" data-is-last-node=\"\" data-is-only-node=\"\">\n<li data-section-id=\"7fbeeo\" data-start=\"1633\" data-end=\"1782\" data-is-last-node=\"\">Growth looks strong on the surface, but much of it is inventory-driven (front-loading) amid inflation + supply fears, not clean demand.\n<\/li>\n<\/ul>\n<p>Chris Williamson chief business economists at the S&amp;P Global marketing intelligent commenting on the report said:<\/p>\n<blockquote><p>\u201cThe surge in manufacturing activity in April is not the cause<br \/>\nfor cheer that at first glance it suggests. A key driving force<br \/>\nbehind the upturn is the need for companies to get ahead of<br \/>\nfurther feared price rises and supply shortages, providing a<br \/>\nshort-term boost that could fade in the coming months as<br \/>\nheadwinds to the economy continue to build.\n<\/p><\/blockquote>\n<blockquote><p>\u201cGrowth of purchasing activity hit a rate not seen for four<br \/>\nyears, since the pandemic, amid increasingly widespread<br \/>\nsupply delays and price rises commonly linked to the war in<br \/>\nthe Middle East, which has exacerbated existing pressure<br \/>\non supply and inflation from tariffs.\n<\/p><\/blockquote>\n<blockquote><p>\u201cShipments, orders and production have all been boosted<br \/>\nby the stock building, notably among larger companies with<br \/>\nthe deepest pockets.<\/p><\/blockquote>\n<blockquote><p>\n\u201cHowever, employment has fallen as firms grow increasingly<br \/>\nworried over the need to reduce cost overheads amid an<br \/>\nenvironment of rising raw material prices, while selling<br \/>\nprices have jumped higher as producers seek to protect<br \/>\ntheir margins.<\/p><\/blockquote>\n<blockquote><p>\n\u201cMore encouragingly, business expectations for output<br \/>\nin the year ahead have improved, partly reflecting hopes<br \/>\nthat the US will be less affected by the war than previously<br \/>\nfeared, and less than other economies, as well as reduced<br \/>\nconcerns over the impact of tariffs given the recent<br \/>\nSupreme Court ruling. However, some of these improved<br \/>\nexpectations of future production gains reflected a reaction<br \/>\nto better than anticipated order book inflows in April, which<br \/>\nmay prove to be a chimera as the stock building boost<br \/>\nfades.<\/p><\/blockquote>\n<p>At 10 AM, the ISM Manufacturing PMI for April will be released with expectations of 53.0 versus 52.7 last month.<\/p>\n<p>                            This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prior month 52.3 last month. Summary of the details from the report PMI (Headline): 54.5 (vs 52.3 prior) \u2192 strongest expansion since May 2022 New Orders: Strong increase (4-year high) Driven mainly by domestic demand Exports weak (down for 11 straight months; tariffs + geopolitics) Output (Production): Sharp rise (strongest since April 2022) Largely tied [&hellip;]<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-430096","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/430096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=430096"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/430096\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=430096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=430096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=430096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}