US Manufacturing Posts Strong Growth in March

U.S. manufacturing growth accelerated for a second straight month in March, an industry report showed on Tuesday, as production recovered though employment growth slowed.

The Institute for Supply Management (ISM) said its index of national factory activity rose to 53.7 in March, which was up slightly from February’s read of 53.2 but below the median forecast of 54.0 in a Reuters poll of economists.

Readings above 50 indicate expansion in the sector.

The report remains below November’s recent peak reading of 57, which was the highest read since April 2011. Gains in the month came alongside a rebound in the production subindex, which jumped to 55.9 from 48.2, ending a three-month string of slowing growth. The forward-looking new orders index rose to 55.1 from 54.5.

There were some cautionary notes, as the employment index fell from 52.3 to 51.1, the weakest read for the index since June 2013. Analysts were expecting a reading of 52.8 in the employment index.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza