Economy
April 1, 2019
ISM Manufacturing Index Bounces Back in March
Written by Sandy Williams
The March ISM manufacturing PMI bounced back from a two-year low recorded in February. The Index rose to 55.3 from 54.2 supported by gains in new orders and employment, said Timothy Fiore, chairman of the Institute of Supply Management business survey committee.
Indexes for new orders and production rose 1.9 and 1.0 percentage points to 57.4 and 55.8, respectively. The supplier delivery index decreased to 54.2 from 54.9 in February. Inventories also decreased, losing 1.6 percentage points from last month for a reading of 51.8. The customer inventories index rose, but inventories were still considered too low at a reading of 42.7. A reading above 50 indicates expansion.
