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US manufacturing PMI slightly improves in March: Markit

by ChemOrbis Editorial Team - content@chemorbis.com
  • 23/03/2016 (11:37)
According to a flash purchasing managers’ index (PMI) released by Markit Economics, manufacturing in the US increased at a slower pace due to a stronger dollar, slowing global demand, volatility in energy markets and uncertainty ahead of the presidential election.

The March manufacturing PMI rose to a reading of 51.4 following a reading of 51.3 in February, missing economists’ initial estimates, which called for a reading of 51.9. Any reading above 50 indicates an expansion.

Manufacturers in the US have cut production to reduce excessive inventories while pre-production levels fell at the fastest pace in more than two years.
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