US: Manufacturing growth slows to six-month low in March - Markit

Eren Sengezer FXStreet

According to the official Markit report, at 53.3 in March, down from 54.2 in February, the seasonally adjusted Markit final US Manufacturing Purchasing Managers’ Index (PMI) eased further from the 22-month peak recorded at the start of 2017 (55.0). The latest reading was the lowest since September 2016.

Key findings:

Headline PMI eases to 53.3, down from 54.2 in February,
New orders rise at weakest pace since October, 2016
Input cost inflation hits two-and-a-half year high

Commenting on the final PMI data, Chris Williamson, Chief Business Economist at IHS Markit argued that while the survey data suggest that the goods-producing sector enjoyed a relatively good first quarter, on the whole, the loss of momentum seen in February and March bodes ill for the second quarter.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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