Keeping you up to date on the latest data releases.
- ISM Manufacturing
The ISM’s Manufacturing Purchasing Managers Index (PMI) increased from 52.4 in February to 53.4 in March, matching consensus expectations. The increase was driven by large bumps in the production and employment components. Production increased 3.0 percentage points, from 55.3 to 58.3, and employment added 2.9 percentage points, going from 53.2 to 56.1. A gain was also made in the inventories index, which rose 0.5 percentage points to 50.0 and avoided a sixth consecutive month below the growth threshold of 50.0. A decline was recorded in the new orders index, falling from 54.9 to 54.5, and the supplier deliveries index remained below 50.0, dropping from 49.0 to 48.0 and indicating a faster pace of deliveries. The prices index (which is not seasonally adjusted and does not enter into the overall PMI) recorded a slight decline after two months of large increases, falling 0.5 percentage points to 61.0 in March.