The U.S. manufacturing sector grew in March, Manufacturing PMI® registered 50.3%, up 2.5 percentage points (pp) from the seasonally adjusted 47.8% recorded in February. Regarding the overall economy, this figure indicates that the economy continued in expansion for the 47th month after one month of contraction in April 2020. (A manufacturing PMI® above 42.5%, over a period of time, generally indicates an expansion of the overall economy.)
The Employment Index registered 47.4%, up 1.5 pp from February’s figure of 45.9%.
The Prices Index registered 55.8%, up 3.3 pp compared to the reading of 52.5% in February.
The New Orders Index moved back into expansion territory at 51.4%, 2.2 pp higher than the 49.2% recorded in February.
The New Export Orders Index reading of 51.6% was unchanged from February.
The Inventories Index increased 2.9 pp to 48.2% following a reading of 45.3% in February.
Read the ISM release.
