Manufacturing expansion slowed in March
Economic activity in the manufacturing sector expanded in March but at a slower pace than in February, according to the latest Manufacturing ISM Report On Business.
The March PMI registered 57.2 percent, a decrease of 0.5 percentage point from the February reading of 57.7 percent. The New Orders Index registered 64.5 percent, a decrease of 0.6 percentage point from the February reading of 65.1 percent.
"Consistent with generally positive comments from the panel, all 18 industries reported growth in new orders for the month of March," said Bradley J. Holcomb, Chair of the Institute for Supply Management Manufacturing Business Survey Committee.