American industry showed growth for the first time in a year and a half
[ad_1]
The business activity index (PMI) in the US industrial sector was 50.3 points in March. Such data presented Institute of Supply Management (ISM). A PMI above 50 points reflects increased activity, while below it indicates a slowdown. Thus, American industry demonstrated an increase in activity for the first time in a year and a half, since September 2022.
In February, the manufacturing PMI was 47.8 points. Analysts polled by Reuters had expected it to also be below 50 in March, at 48.5 points. Experts note that industrial production in the United States is growing, as is the number of new orders for such products. At the same time, employment in factories remains quite low, and prices for raw materials are rising.
PMI is based on surveys of purchasing managers of various companies, they are asked questions about several indicators, such as new orders, production levels, etc. Typically, PMI is slightly worse than statistical indicators for production – for example, according to official statistics, industrial production in the United States in In 2023 it grew by 1.6%, and in 2022 by 0.8%, despite the fact that the PMI remained below 50 points for a significant part of this period.
The Fed expects stronger growth in the US economy this year. Read more in the Kommersant article. “The rate will wait until September”.
[ad_2]
Source link
