Posted April 2, 2018

Manufacturing expanded in March

Manufacturing expanded in March as the Institute for Supply Management purchasing manager index registered 59.3 percent.

The PMI decreased 1.5 percentage points from the February reading of 60.8 percent.

“This indicates strong growth in manufacturing for the 19th consecutive month, led by continued expansion in new orders, production activity, employment and inventories, with suppliers continuing to struggle delivering to demand,” said Timothy R. Fiore, chair of the ISM Manufacturing Business Survey Committee.

A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.