US Manufacturing Activity Rises in March

Growth in the U.S. manufacturing sector edged higher in March, with factory activity showing the best gain since October, according to an industry report released Tuesday.

Financial data firm Markit said its preliminary or “flash” U.S. Manufacturing Purchasing Managers’ Index rose to 55.3 in March to its highest since October, when the final PMI was 55.9. Economists polled by Reuters had forecast the March figure would come in at 54.7, after February’s final reading of 55.1.

A reading above 50 indicates growth in the sector.

“Manufacturing regained further momentum from the slowdown seen at the turn of the year, with output, new orders and employment growth all accelerating in March,” said Chris Williamson, Markit’s chief economist.

The index’s flash output component rose to 58.2 in March from February’s final reading of 57.3.

The flash reading of the index measuring new orders also rose in March to its highest since October, coming in at 56.4 compared with February’s final reading of 55.8.

Employment growth also rose in March from February, Markit said.

via Reuters

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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