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U.S. manufacturing expanded fourth month in a row

Staff writer ▼ | April 2, 2013
The U.S. in the manufacturing sector expanded in March for the fourth consecutive month, and the overall economy grew for the 46th consecutive month, according to Manufacturing ISM Report On Business.
US manufacturing
US manufacturingThe U.S. in the manufacturing sector expanded in March for the fourth consecutive month, and the overall economy grew for the 46th consecutive month, according to Manufacturing ISM Report On Business.


"The PMI registered 51.3 percent, a decrease of 2.9 percentage points from February's reading of 54.2 percent, indicating expansion in manufacturing for the fourth consecutive month, but at a slower rate. Both the New Orders and Production Indexes reflected growth in March compared to February, albeit at slower rates, registering 51.4 and 52.2 percent, respectively," said Bradley J. Holcomb, chair of the Institute for Supply Management Manufacturing Business Survey Committee.

The Employment Index was 54.2, an increase of 1.6 percentage points, the Prices Index decreased 7 percentage points, and the list of commodities up in price reflected far fewer items than in February.

A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting. A PMI in excess of 42.2 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the March PMI indicates growth for the 46th consecutive month in the overall economy, and indicates expansion in the manufacturing sector for the fourth consecutive month.

Of the 18 manufacturing industries, 14 are reporting growth in March, and three industries reporting contraction: Petroleum and Coal Products; Chemical Products; and Machinery.


 

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