U.S. manufacturing activity slowest in more than 1-1/2 years as workers quit – Reuters.com

U.S. manufacturing activity slowest in more than 1-1/2 years as workers quit – Reuters.com

WASHINGTON, May 2 (Reuters) - U.S. factory activity grew at its slowest pace in more than 1-1/2 years in April amid a rise in workers quitting their jobs, and manufacturers are becoming more anxious about supply over the summer because of China's zero tolerance COVID-19 policy.

The Institute for Supply Management's (ISM) Manufacturing Business Survey Committee Chair Timothy Fiore said on Monday that coronavirus outbreaks overseas were "creating a near-term headwind for the U.S. manufacturing community," noting that some manufacturers worried "about their Asian partners' ability to deliver reliably in the summer months."

The ISM's index of national factory activity fell to a reading of 55.4 last month, the lowest since a matching reading in September 2020, from 57.1 in March. The last time the index was lower was in July 2020.