April factory activity growth slows to three-month low

New York

GROWTH in the US manufacturing sector dipped more than expected in April, with factory activity showing the slowest momentum since January, according to an industry report released on Thursday.

Financial data firm Markit said its preliminary US Manufacturing Purchasing Managers' Index fell to 54.2 this month from the final March read of 55.7. Economists polled by Reuters had forecast the April figure would come in at 55.5.