United States PMI

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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.

FocusEconomics Consensus Forecast panelists expect that industrial output will increase 4.1% this year, which is up 0.1 percentage points from last month’s forecast. For 2016, panelists see industrial production decelerating to a 3.5% expansion.

Author:, Economist

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United States PMI Chart

USA PMI March 2015

Note: Composite index in the Manufacturing Report on Business (PMI). Readings above 50% indicate an expansion in the manufacturing sector while readings below 50% point to a contraction.
Source: Institute for Supply Management.

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