The U.S. manufacturing fell sharply in March, to the lowest level since December. The Institute for Supply Management index ISM decreased to 51.3% in March vs 54.2% in February. Many economists expected ISM index to stay at 54.2%.
Data over 50 indicate more manufacturers are expanding and reading under 50 shows the contraction.
According to ISM new-orders index deepened to 51.3% in March from 57.8% in February. The production index fell to 52.2% from 57.6%. The employment index, on the contrary, rose to 54.2% from 52.6%.
Markit, in comparisson, reported Monday on a slight rise in manufacturing to 54.6% in March from 54.3% in February.