Monday, April 2, 2012

Manufacturing Recovered in March

The ISM manufacturing index recovered in March, rising to 53.4 from 52.4 and offsetting some of the unexpected slowdown seen in February. In February, the index unexpectedly dropped from 54.1 to 52.4.

The production portion of the index surged from 55.3 to 58.3 over the month. Employment also improved to 56.1, its highest level since June 2011. Inventories improved to a neutral 50.0, the first time it has not contracted since September.

New orders fell in February, to 54.5 from 54.9. Most of this decline was led by new export orders, which fell 5.5 points, to 54.0 on poor international demand.

Read the report.

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