April was marked by the stabilisation of the Purchasing Managers Index (PMI) for the manufacturing sector (table 1), after a slight decline in March. The United States and Canada reported a slight increase, with the index rising above 50 (the level separating expansion from contraction), while in the eurozone, the index slipped to 45.8, the lowest level since May 2020. In 7 of the 8 countries followed in the eurozone, the index remained below 50, signalling a contraction. In Asia, PMI continued to decline further in Vietnam, while in China it slipped slightly into contraction territory at 49.5. In Japan, in contrast, PMI continued to rise. Brazil and the United Kingdom also recorded a decline in manufacturing activity.
