April 12, 2017

PMI Hits 57.2 Percent in March

The March PMI of 57.2 percent saw a slight 0.5 percentage point decrease from February, but remained well above the 50 percent mark that indicates growth in the manufacturing sector, reports the Institute for Supply Management, Tempe, Ariz., in its latest Manufacturing Report on Business.

ISM surveys corporate purchasing managers each month. Of the 18 manufacturing industries surveyed, 17 reported growth in March, including fabricated metal products, primary metals, appliances and components, transportation equipment and miscellaneous manufacturing. No industries reported contraction during the month.

If annualized, the PMI for March corresponds to a 4.4 percent increase in GDP. The average PMI for the first three months of the year corresponds to 4.3 percent GDP growth, ISM says.


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Wednesday, November 22, 2017