Purchasing Managers Index Rose to 55.3% in March
Tempe, AZ, April 1, 2019-The March Purchasing Managers Index (PMI) registered 55.3%, an increase of 1.1 percentage points from the February reading of 54.2%, according to the nation’s supply executives in the latest Manufacturing ISM Report On Business.
The New Orders Index registered 57.4%, an increase of 1.9 percentage points from the February reading of 55.5%. The Production Index registered 55.8%, a 1-percentage point increase compared to the February reading of 54.8%. The Employment Index registered 57.5%, an increase of 5.2 percentage points from the February reading of 52.3%. The Supplier Deliveries Index registered 54.2%, a 0.7 percentage point decrease from the February reading of 54.9%. The Inventories Index registered 51.8%, a decrease of 1.6 percentage points from the February reading of 53.4%. The Prices Index registered 54.3%, a 4.9-percentage point increase from the February reading of 49.4%, indicating a return of increasing raw materials prices after a two-month respite.
Of the 18 manufacturing industries, 16 reported growth in March, in the following order: printing and related support activities; textile mills; food, beverage and tobacco products; petroleum and coal products; computer and electronic products; electrical equipment, appliances and components; furniture and related products; chemical products; plastics and rubber products; wood products; nonmetallic mineral products; transportation equipment; miscellaneous manufacturing; fabricated metal products; primary metals; and machinery. The two industries reporting contraction in March are apparel, leather and allied products; and paper products.