The New York City skyline in the United States

United States PMI March 2021

United States: ISM manufacturing index rises in March

The Institute for Supply Management (ISM) manufacturing index increased to 64.7 in March from 60.8 in February, and beat market expectations of a 61.3 reading. Consequently, the index moved above the 50-threshold that separates expansion from contraction in the manufacturing sector.

March’s improvement was the result of stronger growth in new orders, production and employment levels relative to the previous month. Moreover, backlogs of work increased in March, while new export orders rose at a softer pace. On the price front, input prices continued to rise on the back of higher raw material prices albeit at a weaker pace compared to the month prior.

Commenting on the state of the manufacturing sector with regard to March’s print, analysts at Goldman Sachs noted:

“The composition of the report was strong, with increases in the production, new orders, and employment components. The prices paid measure declined slightly from its 12-year high in February. Construction spending declined modestly in February, likely reflecting winter storms. We left our Q1 GDP tracking estimate unchanged at +7.5% (qoq ar).”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest