Manufacturing expanded in March, according to the latest Manufacturing ISM Report on Business. The Institute for Supply Management reported the Purchasing Managers Index was at 59.6%, indicating expansion.
| We Deliver Distribution News to Your Inbox Sign up below to receive MDM Update, your free weekly distribution news update by email. |
Both new orders and production rose above 60% in March, closing the first quarter with significant momentum going forward. Although the Employment Index decreased 1 percentage point to 55.1% from February's reading of 56.1%, signs for employment in the sector continue to improve as the index registered a 10% month-over-month improvement, indicating that manufacturers are continuing to fill vacancies.
The Inventories Index indicated growth for the first time following 46 months of liquidation.
The 17 manufacturing industries reporting growth in March, listed in order, are: Apparel, Leather & Allied Products; Textile Mills; Electrical Equipment, Appliances & Components; Miscellaneous Manufacturing; Transportation Equipment; Machinery; Computer & Electronic Products; Paper Products; Petroleum & Coal Products; Food, Beverage & Tobacco Products; Furniture & Related Products; Nonmetallic Mineral Products; Fabricated Metal Products; Wood Products; Printing & Related Support Activities; Chemical Products; and Primary Metals. Plastics & Rubber Products is the only industry reporting contraction during March.
