ISM Report: Manufacturing expanded in March

Economic activity in the manufacturing sector expanded in March, and the overall economy grew for the 94th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.

The report was issued April 3rd by Bradley J. Holcomb, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee. The report noted:

• Manufacturing expanded in March as the PMI registered 57.2 percent, a decrease of 0.5 percentage point from the February reading of 57.7 percent, indicating growth in manufacturing for the seventh consecutive month. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting. 
• The New Orders Index registered 64.5 percent, a decrease of 0.6 percentage point from the February reading of 65.1 percent.
• The Production Index registered 57.6 percent in March, which is a decrease of 5.3 percentage points when compared to the 62.9 percent reported for February, indicating growth in production for the seventh consecutive month.
• The Employment Index registered 58.9 percent in March, an increase of 4.7 percentage points when compared to the February reading of 54.2 percent, indicating growth in employment in March for the sixth consecutive month. This is the highest reading since June 2011, when the Employment Index registered 61.3 percent. An Employment Index above 50.5 percent, over time, is generally consistent with an increase in the Bureau of Labor Statistics (BLS) data on manufacturing employment. .

The Manufacturing ISM Report On Business is based on data compiled from purchasing and supply executives nationwide.  More information is available at www.ismrob.org.