U.S. manufacturing continued to see improvement in what is increasingly becoming a positive for the economy.
The ISM manufacturing index rose to 53.4% in March, coming in just slightly below the consensus of 53.5%. This was a jump from 52.4% in February. Any number over 50 indicates expansion.
In an encouraging sign, the employment index was at a 7-month high at 56.1, up from 53.2 in February. Production was also hot, surging to 58.3 from 55.3 in February. That was the highest since December’s 58.9 reading. New orders, however, fell slightly to 54.5 from 54.9 in February.
Even though a lot of attention is paid to manufacturing, it is just 10% of the economy.
But will the positive signals coming out of manufacturing ignite a fire under the rest of the economy?
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