March PMI Marks Slight Decline
Tempe, AZ, April 1, 2020-The March Purchasing Managers’ Index (PMI) registered 49.1%, down one percentage point from the February reading of 50.1%, according to the latest Manufacturing ISM Report On Business.
The New Orders Index registered 42.2%, a decrease of 7.6 percentage points from the February reading of 49.8%.
The Production Index registered 47.7%, down 2.6 percentage points compared to the February reading of 50.3%.
The Backlog of Orders Index registered 45.9%, a decrease of 4.4 percentage points compared to the February reading of 50.3%.
The Employment Index registered 43.8%, a decrease of 3.1 percentage points from the February reading of 46.9%.
The Supplier Deliveries Index registered 65%, up 7.7 percentage points from the February reading of 57.3%, and limited the decrease in the composite PMI.
Of the 18 manufacturing industries, the ten that reported growth in March-listed in order-are printing & related support activities; food, beverage & tobacco products; apparel, leather & allied products; wood products; paper products; chemical products; computer & electronic products; primary metals; miscellaneous manufacturing; and plastics & rubber products. The six industries reporting contraction in March, in order, are petroleum & coal products; textile mills; transportation equipment; furniture & related products; fabricated metal products; and machinery.