The Manufacturing Report On Business, the Institute for Supply Management gauge of national factory activity, came in slightly higher than the median forecast. The index, which has beaten the Econoday consensus for 7 months in a row by coming in at 57.2, comes as the first Manufacturers’ Outlook Survey since President Donald Trump took office shows a “dramatic shift in sentiment” to the highest level ever measured.
Of the 18 manufacturing industries, 17 reported growth in March and no industry reported contraction compared to February.
The National Association of Manufacturers (NAM) survey found more than 93% of manufacturers feeling positive about their economic outlook.
|MANUFACTURING AT A GLANCE
|Customers’ Inventories||47.0||47.5||-0.5||Too Low||Faster||6|
|Backlog of Orders||57.5||57.0||+0.5||Growing||Faster||2|
|New Export Orders||59.0||55.0||+4.0||Growing||Faster||13|
Manufacturing ISM® Report On Business® data is seasonally adjusted for the New Orders, Production, Employment and Supplier Deliveries Indexes.
*Number of months moving in current direction.