Manufacturing index increases in March - Trade Only Today

Manufacturing index increases in March

Author:
Publish date:
Social count:
0

Economic activity in the manufacturing sector expanded in March for the 32nd consecutive month and the overall economy grew for the 34th consecutive month, the nation's supply executives said in the latest Manufacturing ISM Report on Business.

“The PMI registered 53.4 percent, an increase of 1 percentage point from February's reading of 52.4 percent, indicating expansion in the manufacturing sector for the 32nd consecutive month,” said Bradley Holcomb, chairman of the Institute for Supply Management Manufacturing Business Survey Committee.

“The Production Index increased 3 percentage points, from February's reading of 55.3 percent to 58.3 percent, and the Employment Index increased 2.9 percentage points to 56.1 percent,” he added. “Of the 18 industries included in the survey, 15 are experiencing overall growth. Comments from the panel remain positive, with several respondents citing increased sales and demand for the next few months.”

A PMI in excess of 42.6 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the PMI indicates growth for the 34th consecutive month in the overall economy.

Click here for the full report.

Related

NMMA: Bad trade policies are piling up

President Trump announced a new round of tariffs on China that would affect marine components being imported from there, further jeopardizing strong growth in the industry, said the National Marine Manufacturers Association.

Law symposium issues call for speakers

Following the success of the 2017 and 2018 ABYC Marine Law Symposiums on the East Coast, the American Boat and Yacht Council will host next year’s Marine Law Symposium in Seattle on Jan. 8.