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| Version 1 | Version 2 |
|---|---|
| US factory output continues fall | US factory output continues fall |
| (about 4 hours later) | |
| US manufacturing activity fell further in April - but at a slower pace - figures from the Institute for Supply Management (ISM) have suggested. | US manufacturing activity fell further in April - but at a slower pace - figures from the Institute for Supply Management (ISM) have suggested. |
| Its index of national factory activity rose to 40.1 in April from 36.3 in March, with any figure below 50 indicating a contraction. | Its index of national factory activity rose to 40.1 in April from 36.3 in March, with any figure below 50 indicating a contraction. |
| The easing of the slowdown was greater than most analysts had predicted. | The easing of the slowdown was greater than most analysts had predicted. |
| However separate Commerce Department data said US factories orders dropped by 0.9% in March - more than expected. | However separate Commerce Department data said US factories orders dropped by 0.9% in March - more than expected. |
| Factory shipments fell for a record eighth consecutive month, it added. | Factory shipments fell for a record eighth consecutive month, it added. |
| Analysts said that both sets of data were further evidence of the severity of the recession. | Analysts said that both sets of data were further evidence of the severity of the recession. |
| However oil prices rose sharply as traders took encouragement from the ISM figures that the deterioration in the US manufacturing sector appeared to be slowing. | However oil prices rose sharply as traders took encouragement from the ISM figures that the deterioration in the US manufacturing sector appeared to be slowing. |
| US light sweet crude jumped by $2.08 to settle at $53.20 a barrel while London Brent crude added $2.05 at $52.85. | |
| Little improvement | Little improvement |
| Earlier this week, official data showed that the US economy continued to contract in the first quarter of 2009, led by the biggest fall in exports for 40 years. | Earlier this week, official data showed that the US economy continued to contract in the first quarter of 2009, led by the biggest fall in exports for 40 years. |
| US GDP contracted at an annualised rate of 6.1% during the quarter, little improvement on the 6.3% fall in the last three months of 2008. | US GDP contracted at an annualised rate of 6.1% during the quarter, little improvement on the 6.3% fall in the last three months of 2008. |