ISM: US manufacturing activity rises in March

 Activity in the United States' manufacturing sector expanded in March at a faster pace than the previous month, the Institute for Supply Management (ISM) said in its report published on Wednesday. The Manufacturing Purchasing Managers' Index (PMI) rose from the previous month's 52.4% to 52.7%, expanding for the third month in a row.

Meanwhile, the Employment Index dipped by 0.1 percentage points compared to February to 48.7%. The Production Index went up by 1.6 percentage points to 55.1%. The New Orders Index decreased by 2.3 percentage points to 53.5.

"In March, US manufacturing activity remained in expansion territory, growing at a slightly faster pace than the month before. Of the five subindexes that make up the PMI, the New Orders Index indicated slower growth compared to the previous month, the Production Index grew at a faster rate, and the Employment and Inventories indexes remained in contraction," ISM Chair Susan Spence commented.

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