Economic activity in the US manufacturing sector grew in March, with the overall economy notching a 10th consecutive month of growth, according to the latest Manufacturing ISM Report On Business.
The March Manufacturing PMI registered 64.7 percent, an increase of 3.9 percentage points from the February reading of 60.8 percent.
Index breakdown:
Index | March level | February level |
New Orders | 68 | 64.8 |
Production | 68.1 | 63.2 |
Backlog of Orders | 67.5 | 64 |
Employment | 59.6 | 54.4 |
Supplier Deliveries | 76.6 | 72 |
Inventories | 50.8 | 49.7 |
Prices | 85.6 | 86 |
New Export Orders | 54.5 | 57.2 |
Imports | 56.7 | 56.1 |
Of the 18 manufacturing industries, 17 reported growth in March, in the following order: textile mills; electrical equipment, appliances and components; machinery; computer and electronic products; apparel, leather and allied products; furniture and related products; fabricated metal products; food, beverage and tobacco products; primary metals; plastics and rubber products; paper products; transportation equipment; chemical products; nonmetallic mineral products; miscellaneous manufacturing; printing and related support activities; and petroleum and coal products.
No industries reported contraction in March.