US factory activity unexpectedly expanded in March 2024, ending 16 months of contraction.

In March 2024, US factory activity unexpectedly expanded for the first time since September 2022, with the Institute for Supply Management's (ISM) manufacturing gauge rising 2.5 points to 50.3. The growth led to a rebound in production and stronger demand, while input costs climbed. The new orders measure also returned to expansion territory, and factory employment shrank less in March compared to the previous month. This data indicates the end of 16 consecutive months of manufacturing contraction.

April 01, 2024
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