ISM: Manufacturing growth slows in March
April 1, 2013
Economic activity in the manufacturing sector grew in March but at a slower pace than in February, according to the Institute of Supply Management’s closely watched manufacturing index. The PMI dropped 2.9 points to 51.3%. The threshold between expansion and contraction is 50%.
Two PMI components of particular interest to trucking — the production and new orders indexes — also fell sharply but remained above 50%. The production index dropped 5.4% to 52.2%, and the new orders index fell 6.4 points to 51.4%. These indicators suggest that trucking companies generally can expect some increase in manufacturing-related freight in the near term but the increase in loads will be slower. In potentially good news for the slightly longer term, the inventories index contracted slightly, declining 2 points to 49.5%.
Of the 18 manufacturing industries, only three reported contraction in March: Petroleum and coal products, chemical products and machinery.
Click the link below to print a print-friendly page of the this analysis.Print Page
Use our chart creator to generate charts using the data that was used in this analysis.TruckGauge Chart Creator
This functionality is only available to Premium Members. Please upgrade your account to gain access to the data used in this analysis.Upgrade to a Premium Member