Daily Management Review

PMI in the U.S. industry shows growth for the first time in a year and a half


In the US industrial sector, the Purchasing Managers Index (PMI) was 50.3 points in March, reports the Institute for Supply Management (ISM). Business activity is growing when the PMI is above 50.

As a result, the American industry experienced growth in activity for the first time since September 2022, or in a year and a half.

The industrial PMI for February was 47.8 points. Analysts surveyed by Reuters expected that it would fall between 50 and 48.5 points in March as well. Experts observe that both the amount of new orders for these products and industrial production in the US are rising. In the meantime, raw material prices are rising and factory employment is still relatively low.

The PMI is derived from surveys that are conducted among purchasing managers from different organizations. The surveys ask questions regarding multiple variables, including new orders and output levels.

source: bloomberg.com