United States: Manufacturing PMI recovers in March
April 2, 2012
In March, the ISM manufacturing index (PMI) rose 1.0 percentage points to 53.4%. The reading overshot market expectations, which had anticipated the index increasing to 53.0%. As a result, the index continues to be above the 50% threshold, which indicates the manufacturing sector has now been expanding for 32 consecutive months. The improvement over the previous month reflected an increase in three out of the five sub-components of the index, with the production and the employment sub-indices recording the largest gains. According to the ISM ?comments from the panel remain positive, with several respondents citing increased sales and demand for the next few months?.