Economics
U.S. Manufacturing Growth Loses Steam, Inflation Pressures Grow
- ISM purchasing managers index decreased in March to 57.1
- New orders, production gauges fell to lowest since May 2020
A worker manipulates a cask of molten iron at a factory in South Pittsburg, Tennessee.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
A measure of U.S. manufacturing activity lost steam in March, falling to the lowest level since 2020 on slower growth in new orders and production.
The Institute for Supply Management’s gauge of factory activity declined to 57.1 from 58.6 in February, according to data released Friday. Readings above 50 indicate expansion. The figure was weaker than most estimates in a Bloomberg survey of economists.