Posted April 1, 2011
ISM: Manufacturing expansion continues
The manufacturing expansion has continued for the 20th straight month according to the Institute for Supply Management.
Manufacturing continued its rapid growth in March as the PMI registered 61.2 percent, a decrease of 0.2 percentage point when compared to February's reading of 61.4 percent. This is the third straight month that the PMI registered above 60. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.
"While manufacturers are benefiting from strength in new orders and production, there is significant concern with regard to commodity prices. Many manufacturers indicate the prices they have to pay for inputs are rising, and there is concern about the impact of higher prices on their margins," said Norbert J. Ore, chair of the ISM Manufacturing Business Survey Committee.
