The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) in March was 51.9, declining 0.3 points from February but marking the third consecutive month with a reading above 50.. Manufacturers reported growth in demand, new orders, and production.
The PMI index is comprised of five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times, and stocks of raw materials. A reading above 50 indicates growth, while below represents a contraction. See S&P Global