- Analytics
- News and Tools
- Market News
- U.S. manufacturing growth accelerates in March - ISM
U.S. manufacturing growth accelerates in March - ISM
A report from the Institute for Supply Management (ISM) showed the U.S. manufacturing sector expanded in March at a faster pace than in February.
The ISM's index of manufacturing activity came in at 55.3 percent last month, up 1.1 percentage points from the February reading of 54.2 percent, exceeding economists' forecast for a 54.5 percent reading.
A reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction.
The monthly gain by the headline index was primarily attributable to faster increases new orders (+1.9 percentage points m-o-m to 57.4 percent in March), production (+1.0 percentage point to 55.8 percent) and employment (+5.2 percentage points to 57.5 percent) indicators. Meanwhile, supplier deliveries index (-0.7 percentage point to 54.2 percent) and the inventories index (-1.6 percentage points to 51.8 percent) recorded decreases.
Timothy R. Fiore, Chair of the ISM Manufacturing Business Survey Committee said, “The past relationship between the PMI and the overall economy indicates that the PMI for March (55.3 percent) corresponds to a 3.7-percent increase in real gross domestic product (GDP) on an annualized basis.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
