U.S. Manufacturing Continues to Rebound
Manufacturing continued to expand in March, according to a closely watched reading that showed the sector grew for the 32nd month in a row. The Institute of Supply Management's monthly index rose to 53.4 in March, from a 52.4 reading in February. Any reading above 50 indicates growth in the sector. A survey of executives in the sector showed improvement in their hiring outlook, their production plans and the backlog of orders their factories are working to fill.
The reading was roughly in line with the forecast of 53 by economists surveyed by Briefing.com.
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