India's manufacturing activity expanded at the second-fastest pace in three-and-a-half years, bolstered by strong demand conditions, survey results from S&P Global showed on Thursday.
U.S. manufacturing experienced a contraction in April as orders declined, reversing a brief expansion seen in March. The Institute for Supply Management (ISM) reported that its manufacturing PMI dropped to 49.2 from 50.3 in March. This decline, below the 50 mark indicating growth, reflects constraints due to higher borrowing costs and a shift in spending towards services.
The Institute for Supply Management released a report on Wednesday showing a modest contraction by U.S. manufacturing activity in the month of April. The ISM said its manufacturing PMI slipped to 49.
In the coming truncated week, the market is expected to consolidate with a positive bias, with focus on Fed interest rate decision, corporate earnings, monthly auto sales numbers, and manufacturing PMI data, experts said.