ISM Manufacturing PMI Stays Below The 50 Level
On April 3, the Institute for Supply Management released its Manufacturing PMI report, which indicated that ISM Manufacturing PMI declined from 47.7 in February to 46.3 in March, compared to analyst consensus of 47.5.
ISM noted: “Regarding the overall economy, this figure indicates a fourth month of contraction after a 30-month period of expansion. The Manufacturing PMI is at its lowest level since May 2020, when it registered 43.5 percent.”
Today, traders also focused on the final reading of the S&P Global Manufacturing PMI report for March. The report showed that S&P 500 Global Manufacturing PMI improved from 47.3 in February to 49.2 in March, compared to analyst consensus of 49.3.
Both reports missed analyst expectations and showed that…
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