US Factory Growth Beats Forecasts


The ISM Manufacturing PMI in the US rose to 55.3 in March, recovering from a 2 year low of 54.2 reported in February and compared to market expectations of 54.5. Faster growth in new orders, production and employment offset a slowdown in inventories, backlogs of orders, new export orders and supplier deliveries.

New orders (57.4 from 55.5 in February), production (55.8 from 54.8) and employment (57.5 from 52.3) increased more. In contrast, a slowdown was seen for inventories (51.8 from 53.4), backlogs of orders (50.4 from 52.3), new export orders (51.7 from 52.8) and  supplier deliveries (54.2 from 54.9) while prices rebounded (54.3 from 49.4). 

Of the 18 manufacturing industries, 16 reported growth in March, in the following order: Printing and Related Support Activities; Textile Mills; Food, Beverage and Tobacco Products; Petroleum and Coal Products; Computer and Electronic Products; Electrical Equipment, Appliances and Components; Furniture and Related Products; Chemical Products; Plastics and Rubber Products; Wood Products; Nonmetallic Mineral Products; Transportation Equipment; Miscellaneous Manufacturing; Fabricated Metal Products; Primary Metals; and Machinery. The two industries reporting contraction in March are: Apparel, Leather and Allied Products; and Paper Products.

US Factory Growth Beats Forecasts


ISM | Joana Taborda | joana.taborda@tradingeconomics.com
4/1/2019 2:40:24 PM