US Manufacturing 'Marches' On Print E-mail
Written by Chelsey Drysdale   
Tuesday, 03 April 2012 15:37

TEMPE, AZ – US manufacturing activity expanded in March for the 32nd consecutive month, says the Institute for Supply Management.

The PMI was up 1 percentage point to 53.4%, and new orders were down 0.4 percentage point to 54.5%. Production grew 3 percentage points to 58.3%, while Inventories reached 50%, up 0.5 percentage point. Customer inventories fell 1.5 points to 44.5%, and backlogs were up 50 basis points to 52.5%. Employment increased 2.9 percentage points to 56.1%.

“The PMI registered 53.4%, indicating expansion in the manufacturing sector for the 32nd consecutive month. Of the 18 industries included in the survey, 15 are experiencing overall growth. Comments from the panel remain positive, with several respondents citing increased sales and demand for the next few months,” said Bradley J. Holcomb, chair of ISM.

The overall economy grew for the 34th consecutive month, the firm says.

 

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