The Institute for Supply Management® reported a massive PMI index drop to 41.5 percent for April for US manufacturers. That follows 49.1 percent from March and certainly reflects the broad shutdown across the US.
Read MoreThe COVID-19 pandemic looks to have snuffed out an expansion that wanted to kick off at the start of the year as the Institute for Supply Management® reported a PMI of 49.1 percent for March. Based on the overall economy, the drop from 50.1 percent in February seems relatively modest. Comments from the ISM® report and panel reflect intense concerns about the future outlook as the world economy is heading into the unknown.
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