U.S. manufacturing contracted at the sharpest rate since the last recession in April as companies pulled back following lockdowns to halt the spread of the coronavirus. The Institute for Supply Management said Friday its manufacturing index fell to 41.5% from 49.1% in March. That was the lowest level since April 2009. Readings above 50 indicate activity is expanding across the manufacturing sector, while those below 50 signal contraction.

Source: Wall Street Journal May 01, 2020 14:38 UTC