US March Manufacturing PMI 50.2 ... Slightly Exceeds Market Expectations

Son Min

Summary

It was reported that the US March Manufacturing PMI was 50.2, slightly exceeding the market expectation of 49.8.
It was reported that production and order decreases are due to customer spending delays caused by tariff uncertainties.
The Manufacturing PMI exceeding 50 indicates economic expansion, but there is uncertainty ahead.

The US March Manufacturing Purchasing Managers' Index (PMI) slightly exceeded expectations.

On the 1st (local time), S&P Global announced that the Manufacturing Purchasing Managers' Index was 50.2, slightly exceeding Wall Street's expectation of 49.8.

The S&P Global report stated, "Production decreased for the first time since December, putting pressure on the overall PMI index. This production decrease contrasts with the rapid PMI increase in February and was also affected by the reduction in preemptive production increases before tariff implementation."

Chris Williamson, Chief Economist at S&P Global, said, "Production decreased for the first time in three months, and orders are gradually depleting," adding, "Manufacturers are concerned about whether tariff uncertainties are causing customers to delay and cancel spending."

The Purchasing Managers' Index (PMI) uses 50 as a baseline to gauge expansion or contraction of business conditions. A PMI above 50 indicates economic expansion, while below 50 indicates economic contraction.