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
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