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US PMI Rises, Manufacturing Peaks; Trump Extends Iran Ceasefire

4/23/2026

40 6 Full Breakdown

Summary

Story summary

The flash Composite PMI Output Index rose to 52.0 in April, signaling expansion after March's 50.3.
Manufacturing PMI climbed to 54.0, a 47-month high, with new orders at 54.8.
Services PMI rose to 51.3, ending its first contraction since January 2023, while input-price index hit 62.6, an 11-month high.
President Donald Trump indefinitely extended the ceasefire with Iran, while a U.S. Navy blockade of Iranian ports stays in effect.

History

Historical Context

The COVID-19 pandemic triggered a global economic downturn in 2020, with the U.S. GDP contracting by 3.4%. In response, the Federal Reserve reduced interest rates to near-zero, aiming to stimulate recovery. The Composite PMI Output Index recently rose to 52.0, indicating increased activity in manufacturing and services, crucial amid ongoing geopolitical tensions, including President Trump’s ceasefire with Iran.

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Story summary

The flash Composite PMI Output Index rose to 52.0 in April, signaling expansion after March's 50.3.
Manufacturing PMI climbed to 54.0, a 47-month high, with new orders at 54.8.
Services PMI rose to 51.3, ending its first contraction since January 2023, while input-price index hit 62.6, an 11-month high.
President Donald Trump indefinitely extended the ceasefire with Iran, while a U.S. Navy blockade of Iranian ports stays in effect.

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