US Manufacturing Activity Expands for First Time Since 2022
- ISM factory index advanced 2.5 points in March to 50.3
- Production and new orders gauges rose, prices increased
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US factory activity unexpectedly expanded in March for the first time since September 2022 on a sharp rebound in production and stronger demand, while input costs climbed.
The Institute for Supply Management’s manufacturing gauge rose 2.5 points to 50.3 last month, according to data released Monday. While barely above the level of 50 that separates expansion and contraction, it halted 16 straight months of shrinking activity.