United States: ISM slides further in March
April 1, 2015
In March, the ISM manufacturing index decreased from the 52.9% recorded in February to 51.5%. The result undershot market expectations of a moderation to 52.5% and marked the lowest reading in almost two years. However, the index remains above the 50.0% threshold that indicates expansion in the manufacturing sector.
The index was dragged down by a weakening of four of the five main components that make up the index. Supplier deliveries and employment tallied the largest losses, followed by inventories and new orders. In contrast, production was a notch higher in March.
Author: Carl Kelly, Economist