Purchasing Managers' Index Reports Slight Contraction in March

Tempe, AZ, April 3, 2017—The March Purchasing Managers' Index registered 57.2% in March, a decrease of 0.5 percentage point from the February reading of 57.7%, according to the Manufacturing ISM Report On Business.

The New Orders Index registered 64.5%, a decrease of 0.6 percentage point from the February reading of 65.1%.

The Production Index registered 57.6%, 5.3 percentage points lower than the February reading of 62.9%.

The Employment Index registered 58.9%, an increase of 4.7 percentage points from the February reading of 54.2%.

Inventories of raw materials registered 49%, a decrease of 2.5 percentage points from the February reading of 51.5%.

The Prices Index registered 70.5% in March, an increase of 2.5 percentage points from the February reading of 68%, indicating higher raw materials prices for the 13th consecutive month.

Of the 18 manufacturing industries, 17 reported growth in March in the following order: Electrical Equipment, Appliances & Components; Printing & Related Support Activities; Furniture & Related Products; Textile Mills; Machinery; Primary Metals; Miscellaneous Manufacturing; Wood Products; Nonmetallic Mineral Products; Plastics & Rubber Products; Paper Products; Transportation Equipment; Chemical Products; Computer & Electronic Products; Food, Beverage & Tobacco Products; Fabricated Metal Products; and Petroleum & Coal Products.

No industry reported contraction in March compared to February.