Manufacturing PMI Expands Again in March But at a Slower Pace

The outlook among purchasing managers surveyed by the Institute for Supply Management remains optimistic, showing continued expansion in March despite a slight month-on-month decline in growth rates.

Last month’s Manufacturing PMI edged down to a reading of 57.1% versus 58.6% in February. The index reading above 50% indicates growth in the manufacturing sector, and March’s measure marks the 22nd consecutive month of expansion since contractions in April and May 2020 following the COVID-19 outbreak.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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