(MENAFN) US manufacturing activity grew at a slower pace last month, signifying that low oil prices and a solid U.S. dollar continue to weigh on the industry.
The manufacturing index, also known as the purchasing managers' index, recorded 50.8 in April, a plunge of one point from March's reading of 51.8.
Moreover, the anticipations of industries surveyed were mixed and not clear, with energy-related corporations projecting an underwhelming growth ahead.
All in all, the nation's manufacturing industry is forecasted to see sluggish growth in the future due to the lagged effect of dollar appreciation and low oil prices.
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