Two separate gauges of U.S. activity, measured across manufacturing and non-manufacturing sectors showed a moderation in March after posting steady gains previously.
The Institute of Supply Management’s manufacturing PMI was registered at 57.2 in March, down from 57.7 in February while the non-manufacturing PMI was registered at 55.2, down from 57.6 previously.
Both the gauges of economic activity had seen strong gains since late last year as businesses were optimistic on the promises made by the Trump administration. The ISM non-manufacturing and manufacturing PMI both surged to the highest levels in more than two years in the month of February.
Read more: https://www.orbex.com/blog/2017/04/ism-manufacturing-non-manufacturing-gauges-ease-back-march/