FX.co ★ U.S. Manufacturing Index Unexpectedly Indicates Growth In March

The Institute for Supply Management (ISM) issued a report last Monday demonstrating a surprise slight increase in U.S. manufacturing activity for March, following a 16-month consecutive decline. The manufacturing Purchasing Managers Index (PMI) from the ISM surged to 50.3 in March, rising from February's 47.8. Any figure above 50 signifies sector growth. Contrarily, economists had predicted the index would slightly rise to 48.4. The index's dramatic leap brings it back to the expansion zone for the first time since September 2022.