U.S. Manufacturing Capacity Utilization: Manufacturing capacity utilization (MCU) reached 78.3% in April 2023, +0.88% month on month (m/m). On a year on year (y/y) comparison, the MCU was a modest -2.03%.

ISM Non-Manufacturing Index: The Institute for Supply Management’s non-manufacturing index increased by 0.7 points month on month (1.4% m/m) to 51.9 in April 2023.

ISM Manufacturing Index: The Institute for Supply Management’s manufacturing index moved up 0.8% (m/m) to 47.1 for April 2023; this value is weaker than the forecast of 50. The new orders sub-index scored at 45.7. The latest reading suggested economic activity in the manufacturing sector shrank for a sixth consecutive month, as higher borrowing costs and tight credit hit activity and boosted the risk of a recession this year.

U.S. Manufacturing Capacity Utilization: Manufacturing capacity utilization (MCU) reached 78.1% in March 2023, -0.64% month on month (m/m). On a year on year (y/y) comparison, the MCU was a modest -2.17%.

ISM Non-Manufacturing Index: The Institute for Supply Management’s non-manufacturing index decreased by 3.9 points month on month (7.1% m/m) to 51.2 in March 2023.

ISM Manufacturing Index: The Institute for Supply Management’s manufacturing index moved down 2.9% (m/m) to 46.3 for March 2023; this value is weaker than the forecast of 50. The new orders sub-index scored at 44.3. The reading pointed to a fifth straight month of contraction in factory activity, as companies continue to slow outputs to better match demand for the first half of 2023 and prepare for growth in the late summer/early fall period.