Analysts expected both ISM and PMI Manufacturing surveys to show improvement in April... and they did. However, S&P Global (Markit)'s Final print was notably below the preliminary print (59.2 vs 59.7 flash) but still above March's print to its highest since Sept 2021 and ISM's Manufacturing grossly disappointed, tumbling to its lowest since Sept 2020.

So take your pick - is US manufacturing the weakest since Sept 2020 or strongest since Sept 2021 just as Q1 GDP prints shockingly negative?