Economy
April 1, 2021
ISM Manufacturing Index Shows Gains in March
Written by Sandy Williams
U.S. manufacturing is on a solid path to recovery, according to the latest report from the Institute for Supply Management. The March 2021 Manufacturing ISM Report on Business posted a PMI of 64.7, a gain of 3.9 points from February.
Expanding demand resulted in new orders, production and employment growing at a faster rate in March. New import orders continued to expand with a slight increase from February. ISM noted that backlogs at ports were at record levels along with difficulties arranging drayage and domestic transportation for goods. Export orders expanded for a ninth consecutive month but at a slower pace.
