by Calculated Risk on 4/01/2014 10:08:00 AM

The ISM manufacturing index indicated faster expansion in March than in February. The PMI was at 53.7% in March, up from 53.2% in February. The employment index was at 51.1%, down from 52.3% in February, and the new orders index was at 55.1%, up from 54.5% in February.

From the Institute for Supply Management: March 2014 Manufacturing ISM Report On Business®

Economic activity in the manufacturing sector expanded in March for the 10th consecutive month, and the overall economy grew for the 58th consecutive month, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®.

The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee. "The March PMI® registered 53.7 percent, an increase of 0.5 percentage point from February's reading of 53.2 percent, indicating expansion in manufacturing for the 10th consecutive month. The New Orders Index registered 55.1 percent, an increase of 0.6 percentage point from February's reading of 54.5 percent. The Production Index registered 55.9 percent, a substantial increase of 7.7 percentage points compared to February's reading of 48.2 percent. Employment grew for the ninth consecutive month, but at a lower rate by 1.2 percentage points, registering 51.1 percent compared to February's reading of 52.3 percent. Several comments from the panel reflect favorable demand and good business conditions, with some lingering concerns about the particularly adverse weather conditions across the country."
emphasis added

Click on graph for larger image.

Here is a long term graph of the ISM manufacturing index.

This was just below expectations of 54.0%.