The first big economic pulse check since President Donald Trump‘s tariff announcement arrives Wednesday, and Wall Street is watching closely.
S&P Global will release its flash Purchasing Managers’ Index (PMI) surveys for April, covering the United States, the United Kingdom, Germany and France.
These surveys will provide the first broad snapshot of business sentiment since the April 2 tariff announcement.
While the 90-day pause may have delayed the most severe or recession-like signals, investors will be watching closely for early signs of strain — or unexpected resilience — already emerging in the data.
US April Flash PMIs: What Economists Expect
Consensus forecasts suggest a pullback in both U.S. manufacturing and services. According to TradingEconomics, economists expect:
- Manufacturing PMI to decline from 50.2 in March to 49.4 in April
- U.S. Services PMI to fall from 54.4 …