According to the ISM survey, manufacturing activity was contracting in April. In fact, the survey has been saying activity has been contracting for seven consecutive months. ismworld.org/globalassets/pub/research-…

Keep in mind that during times of uncertainty, soft survey data tends to reflect exaggerated concerns that aren’t confirmed in the hard data. For more on this, read: tker.co/p/weekly-macro-soft-vs-hard-data