2 April 2002, 13:48  US ISM:Mfg Orders Surge; PMI At 5% GDP Rate; Prices Spike

Another month of strong orders pushed the Institute of Supply Management's manufacturing index yet higher in March, extending a sizzling six-month streak that has seen the index move off deep lows to a 5 percent GDP rate. The PMI came in Monday at the high end of expectations, at 55.6 in March vs. 54.7 in February. New orders rose to 65.3 vs. 62.5 while backlog orders jumped to 62.5 vs. 53.0. The darkside of the growth was a jump in price pressures, with prices paid jumping to 51.9, up 10.4 percentage points in the month. //MarketNews

© 1999-2024 Forex EuroClub
All rights reserved