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US manufacturing tops estimates in March

by ChemOrbis Editorial Team -
  • 24/03/2015 (17:49)
According to a preliminary purchasing managers’ index (PMI) released by Markit Economics, the manufacturing sector in the US grew at the fastest pace since October in March owing to stronger growth in output, new orders and employment. The country’s manufacturing PMI increased to a reading of 55.3, beating economists’ estimates, which called for a reading of 54.7 for March.

The index also showed that output rose to a reading of 58.2 from 57.3 in February while the new orders index also climbed to a reading of 56.4 from February’s final reading of 55.8, posting the highest level since October.
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