US Manufacturing Activity Holds Steady Despite Surging Costs

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