Purchasing Managers Index Rises in March
Chicago, IL, March 31, 2008-- The National Association of Purchasing Management-Chicago said its business barometer rose to 48.2 in March from a six-year low of 44.5 in February. The figure, however, still indicates contraction because it is under 50.
Economists had expected the index would rise to 46.
The production indicator in the report rose to 50.4 from 46.5. The employment indicator rose to 44.6 from 33.5. The report's indicator of new orders improved to 53.9 from 48.8 the prior month. Order backlogs dropped to 36.8 from 38.3.