This big part of the economy was stung by Iran war, but not enough to cause a lot of pain

A survey showed the largest part of the economy took a hit in April from fallout related to the Iran war, indicating geopolitical spillovers are weighing on activity. Even so, businesses still expanded at a fairly robust pace, though they grew more cautious. The read-through is mildly negative for near-term growth but not severe enough to signal a broad downturn.

Analysis

A survey showed the largest part of the economy took a hit in April from fallout related to the Iran war, indicating geopolitical spillovers are weighing on activity. Even so, businesses still expanded at a fairly robust pace, though they grew more cautious. The read-through is mildly negative for near-term growth but not severe enough to signal a broad downturn.