WASHINGTON — U.S. manufacturers grew at a faster pace in March, as the pace of employment jumped and new orders and production improved.
The Institute for Supply Management, an association of purchasing managers, says that its manufacturing index rose to 55.3 last month, up from 54.2 in February. Readings above 50 point toward an expansion in manufacturing. The sector has been reporting growth for 31 months.
ISM’s survey of companies for the index is a sign that economic growth should continue, even though the global economy, steel tariffs and the trade battle between the United States and China have been sources of concern.
Josh Boak, The Associated Press