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PMI Shows Manufacturing Growth in March

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Economic activity in the manufacturing sector expanded in March, reports the Institute for Supply Management in its latest Report on Business. The PMI in March was 55.3 percent, an increase of 1.1 percentage points from February.

Of the 18 manufacturing industries, 16 reported growth in March, including fabricated metal products, primary metals, appliances and components, and miscellaneous manufacturing. 

Among other indices, the New Orders Index was at 57.4 percent, an increase of 1.9 percentage points from February, the Production Index registered 55.8 percent, up 1 percentage point from February and the Employment Index increased 5.2 percentage points to 57.5 percent.

A PMI above 42.9 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the March PMI indicates growth for the 119th consecutive month in the overall economy and 31st straight month of growth in the manufacturing sector.

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