US Manufacturing Activity Holds Steady Despite Surging Costs

The war in Iran and tariffs remain top of mind for U.S. manufacturers.

Workers assemble cars at Ford's Assembly Plant in Chicago, Ill. Jim Young / AFP via Getty Images

U.S. manufacturing activity held steady in April, despite the war in Iran driving up factory costs, new industry data released on May 1 show.

April’s purchasing managers’ index—a monthly survey of firms indicating the sector’s prevailing economic direction—was unchanged at 52.7, according to the Institute for Supply Management.