The U.S. manufacturing sector’s expansion continued in March and employment perked up, according to data released Monday by the Institute for Supply Management.
Separately, spending on construction projects in the U.S. fell for the second consecutive month in February, showing the struggling sector is failing to build upon the momentum seen late last year. The ISM’s manufacturing purchasing managers’ index rose last month to 53.4 from 52.4 in February. A reading above 50 indicates expanding activity.
Economists surveyed by Dow Jones Newswires had expected the March PMI to increase to 53.0.
Abstract from WSJ by Kathleen Madigan