The latest report by IHS Markit revealed on Wednesday the seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index(PMI) rose to 52.6 in April, up slightly from 52.4 in March and the “flash” figure of 52.4.

The reading signaled that the latest improvement in the health of the U.S. manufacturing sector was the second-slowest since June 2017.

Economists had forecast the index to stay unrevised at 52.4.

According to the report, expansions in output and new orders picked up from March's recent lows, with new business growth the fastest for three months. Despite a further rise in backlogs of work, the rate of job creation was the slowest since June 2017. On a price front, inflationary pressures continued to soften for a sixth month running.