Manufacturing expanded in March
Economic activity in the manufacturing sector expanded in March for the first time in the last six months, according to the latest Manufacturing ISM Report On Business.
The March PMI registered 51.8 percent, an increase of 2.3 percentage points from the February reading of 49.5 percent. The New Orders Index registered 58.3 percent, an increase of 6.8 percentage points from the February reading of 51.5 percent.
"Manufacturing registered growth in March for the first time since August 2015, as 12 of our 18 industries reported sector growth, and 13 of our 18 industries reported an increase in new orders in March," said Bradley J. Holcomb, chair of the ISM Manufacturing Business Survey Committee.