The manufacturing sector had grown at its lowest pace in the span of the past 6 months. The pace was seen to be the most sluggish in terms of the last 6 months, which is indeed another sound of the alarm for the government of the United States. The demand from the side of the domestic customers has fallen to its lowest rate, the reasons for which can be linked to the current economic conditions of the people. It all suggests that the economy of the United States has lost its momentum in terms of the 2nd quarter.
This data had been shown in terms of the results of the survey which has been released on Tuesday. The financial data firms had said that the Manufacturing Purchasing Managers Index has fallen to a level of about 52 from the previous level which was about 54.6 in the month of March. This level seen is the lowest in terms of the figures which were reported since the month of October, 2012. Moreover, the output has also been slipped from 56.6 to a level of about 53.6 which happens to be the weakest rate of growth that has been seen since the month of November. The news orders in terms of the exports have risen but the demands in terms of the homes have increased at the slowest pace since the span of 6 months. The new order have been seen to be coming in at the level of about 51.8 from the previous level of about 55.4 since the last month.
This data has raised the concerns about the manufacturing expansion as well as about the economy of the country. The manufacturing sector is losing its momentum due to which the businesses as well as the households are in a state of worry about the tax hikes which are sure to influence all levels of the United States economy. The GDP data is likely to show an expansion in terms of the economy, which is going to be about 3 % in terms of the first quarter, but still a lot more needs to be done.