US manufacturing PMI reaches 47-month high as AI demand fuels production surge

9 articles · Updated · m.dailyhunt.in · Apr 24

The S&P Global US Manufacturing PMI rose to 54.0 in April, with new orders seeing the largest monthly increase since May 2022 and production growth at a four-year high.
AI-driven capital investment by major tech firms is driving the rebound, benefiting sectors like fabricated metals, machinery, and electronics, while companies such as Caterpillar and Vertiv report record stock gains and backlogs.
Despite tariffs and supply chain disruptions raising input costs, manufacturing employment is rising for the first time since 2022, and industry optimism is at its highest since the pandemic, signaling robust sector momentum.

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