US ISM Manufacturing Steady at 52.7 in April as Prices Surge to 84.6 Peak, Employment Slumps

US ISM Manufacturing PMI held steady at 52.7 in April, signaling moderate expansion with new orders at 54.1 but production easing to 53.4 and employment weakening sharply to 46.4, while the Prices Index rocketed to 84.6—the highest since April 2022—due to Iran war supply disruptions and energy shocks. The sector shifted from December 2025 contraction at 47.9%, to expansion at 52.4% in early March and a 3.5-year high of 52.7% later that month, bolstered by February retail sales up 0.28% m/m ex autos/gas, CEO optimism rising to 89, and initial services strength before it slowed to 54% amid Brent crude's 57% jump to $110. This mix supports S&P 500 growth but elevates inflation and policy risks.