The Institute for Supply Management's Purchasing Mangers' Index (PMI) registered a 1 percent increase in March to 53.4 percent, from 52.4 percent in February. Last month's increase represents expansion in the manufacturing sector for the 32nd consecutive month. Of the 18 industries included in the survey, 15 are experiencing overall growth, including: primary metals, fabricated metal products, machinery, and transportation equipment.
The production sector increased 3 percent to 58.3 percent, while the employment index rose 2.9 percent. The new orders index fell 0.4 percent; inventories increase 0.5 percent; prices and imports were each down 0.5 percent; and exports suffered the biggest decline of 5.5 percent.