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