The Institute for Supply Management (ISM) reported Friday that its manufacturing index fell slightly to 61.2 (any reading above 50 percent indicates that the manufacturing economy is generally expanding) in March from 61.4 in February. February's 61.4 reading was the highest since May 2004.
In particular, the ISM reported that its production index rose from 66.3 in February to 69 in March, the highest level since January 2004. On the other hand, ISM's new orders index fell to 63.3 in March from 68 in February.