Economic activity in the manufacturing sector expanded in March, and the overall economy grew for the 107th consecutive month, according to the latest Manufacturing ISM Report On Business.
The March PMI registered 59.3 percent, a decrease of 1.5 percentage points from the February reading of 60.8 percent.
The New Orders Index registered 61.9 percent, a decrease of 2.3 percentage points from the February reading of 64.2 percent.
The Production Index registered 61 percent, a 1 percentage point decrease compared to the February reading of 62 percent.
The Employment Index registered 57.3 percent, a decrease of 2.4 percentage points from the February reading of 59.7 percent.
The Supplier Deliveries Index registered 60.6 percent, a 0.5 percentage point decrease from the February reading of 61.1 percent.
The Inventories Index registered 55.5 percent, a decrease of 1.2 percentage points from the February reading of 56.7 percent.
The Prices Index registered 78.1 percent in March, a 3.9 percentage point increase from the February reading of 74.2 percent, indicating higher raw materials prices for the 25th consecutive month.
Of the 18 manufacturing industries, 17 reported growth in March, in the following order: fabricated metal products; plastics and rubber products; computer and electronic products; paper products; printing and related support activities; nonmetallic mineral products; transportation equipment; petroleum and coal products; wood products; machinery; chemical products; textile mills; electrical equipment, appliances and components; furniture and related products; miscellaneous manufacturing; food, beverage and tobacco products; and primary metals.
The only industry reporting a decrease during the period is apparel, leather and allied products.