ISM manufacturing index down in March
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Manufacturing News, Source : TheManufacturer.com
Published : 01 Apr 2003 23:00
The Institute for Supply Management (ISM) reported that economic activity in the manufacturing sector contracted in March, while the overall economy expanded for the 17th straight month.
New orders fell 6.1% to 46.2%, which followed six months of growth, and production decreased 9.1% to 46.3%, falling below 50% for the first time in 16 months. The employment index has now been below 50% for 30 months.
“The manufacturing sector failed to grow in March, marking the end of four consecutive months of growth,” said Norbert Ore, chair of the Institute for Supply Management. “March wasn’t a good month for manufacturing, as the sector appears to have lost its momentum.”
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