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Wednesday, April 1, 2009

ISM Manufacturing (March)

This morning (sorry for the late posts... been traveling) Motley Fool's Caps reported:
The US manufacturing sector contracted significantly in the month of March, but the nation’s manufacturers cut back on production at a slower pace than expected, according to the Institute of Supply Management’s manufacturing index. The ISM tracks the breadth of growth across firms, asking purchasing managers if business is better this month than last. The PMI came in at 36.3%, up from 35.8% in February. Economists were happy to see this, as a trend may be developing. The PMI rose once again for the third consecutive month, bouncing off its cyclical lows of 32.9% in December. Readings above 50% indicate growth, and anything below, contraction.

Source: ISM