S&P Global: US manufacturing PMI down in March
by ChemOrbis Editorial Team - content@chemorbis.com
According to data released by S&P Global Market Intelligence, the seasonally adjusted Purchasing Managers’ Index (PMI) in the US manufacturing sector was released at 51.9 in March, down from 52.2 in February. Nonetheless, the figure remained in the expansion zone for the third consecutive month, driven by improving economic conditions and market demand.
Manufacturing production expanded at the fastest rate in 22 months, while new order growth softened.
“The final reading of the S&P Global Manufacturing PMI signaled a further encouraging improvement in business conditions in March, adding to signs that the US economy looks to have expanded at a solid pace again in the first quarter,” Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said.
Manufacturing production expanded at the fastest rate in 22 months, while new order growth softened.
“The final reading of the S&P Global Manufacturing PMI signaled a further encouraging improvement in business conditions in March, adding to signs that the US economy looks to have expanded at a solid pace again in the first quarter,” Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said.
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