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ISM’s US manufacturing index slows for March, Markit’s index show gains

by ChemOrbis Editorial Team -
  • 01/04/2015 (17:47)
US manufacturing activity slowed to an almost two-year low in March, according to data reported by the Institute of Supply Management (ISM). The Institute’s manufacturing index declined to a reading of 51.5 in February from the previous month’s reading of 52.9. Any reading above 50 indicates expansion. The decline was attributed to slower new orders and stagnant employment.

According to ISM’s data, new orders index decreased to a reading of 51.8 from 52.5 in the previous month while ISM’s employment index was down to 50 from a reading of 51.4 in February.

However, according to a separate report released by Markit Economics, manufacturing in the US increased at the fastest pace since October in March, rising to a reading of 55.7 following a reading of 55.1 in the previous month. The increase was attributed to falling raw material costs, which gave some support to operating margins.

Meanwhile, according to Markit, an output index for March climbed to a reading of 58.8 from 57.3 in the preceding month while Markit’s employment index also rose to reading of 53.8 from a reading of 52.8 in February.
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