WASHINGTON: United States economy shifted down a gear this month, the lowest in six months, flash estimates showed yesterday, due to softer business activity and lower payrolls.
Businesses across the euro zone, on the other hand, marked the end of the first quarter by ramping up activity at the fastest pace in almost six years to meet burgeoning demand despite sharper price rises. According to flash data released by IHS Markit, US manufacturing purchasing managers’ index (PMI) fell to 53.4 this month from 54.2 last month, well below economists’ expectations of 54.8.
