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PMI at 59.3%; March Manufacturing ISM Report On Business
April 3, 2018 | PRNewswireEstimated reading time: 7 minutes
ISM's Backlog of Orders Index registered 59.8% in March, which is the same as reported in February, indicating growth in order backlogs for the 14th consecutive month. "Backlog expansion continued during the period, with the index at the same reading as February and the highest level since May 2004, when it registered 63%. Strong backlog, near-seven-year lows in customer inventory levels and continued strong new order expansion indicates that production requirements should remain robust through Q2," says Fiore.
New Export Orders
ISM's New Export Orders Index registered 58.7% in March, a decrease of 4.1% points when compared to the 62.8% reported for February, indicating growth in new export orders for the 25th consecutive month. "All six big industry sectors continued to expand export activity during the period. Exports remained strong, with many survey respondents commenting on the currency advantage," says Fiore.
Imports
ISM's Imports Index registered 59.7% in March, a decrease of 0.8% point when compared to the 60.5% reported for February, indicating that imports grew in March for the 14th consecutive month. "Imports continued to expand in order to support production demand, but at slightly slower expansion rates. Many comments reflected the negative impact of the Asian holiday period, concerns about tariffs and difficulties in moving containers from ports to using locations," says Fiore.
About This Report
DO NOT CONFUSE THIS NATIONAL REPORT with the various regional purchasing reports released across the country. The national report's information reflects the entire U.S., while the regional reports contain primarily regional data from their local vicinities. Also, the information in the regional reports is not used in calculating the results of the national report. The information compiled in this report is for the month of March 2018.
The data presented herein is obtained from a survey of manufacturing supply executives based on information they have collected within their respective organizations. ISM makes no representation, other than that stated within this release, regarding the individual company data collection procedures. The data should be compared to all other economic data sources when used in decision-making.
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