The Institute for Supply Management's (ISM) Purchasing Managers Index (PMI) surveys leading domestic manufacturers and asks them to compare current months' conditions those in previous months. In March, the overall PMI fell 2.9 index points to reach 51.3, indicating that the manufacturing sector is continuing to expand, but at a slightly slower pace than in February.

ISM Manufacturing Purchasing Managers Index (PMI)

Additional detail:

  • The Institute for Supply Management's Purchasing Managers Index slipped 2.9 index points in March to reach 51.3, largely the result of broad-based declines across components of the index, with the exception of the employment component.
  • The largest drag on the overall index in March was a decline in new orders, a measure of future manufacturing activity. The new orders index fell 6.4 index points to reach 51.4, down from 57.8 in February.
  • The production component of the index also had a significant decline in March, falling 5.4 index points to reach 52.2.
  • The employment component of the index tacked on 1.6 index points to reach 54.2 in March.