US March ISM Manufacturing PMI 49.0…Below Market Expectations

Son Min

Summary

It was reported that the US March ISM Manufacturing PMI was 49.0, falling short of market expectations.
It was stated that this figure decreased compared to the previous month's value of 50.3.
As the PMI index fell below 50, concerns about economic contraction have increased.

The US March ISM Manufacturing Purchasing Managers' Index (PMI) fell short of expectations.

According to the manufacturing PMI report released by the Institute for Supply Management (ISM) on the 3rd (local time), the US February manufacturing PMI was 40.9, falling short of both the expected value (49.5) and the previous month's value (50.3).

ISM conducts a survey every month to evaluate the manufacturing economy by targeting 400 companies across 20 industries to calculate the PMI index. If this index is above 50, it means more opinions favor economic expansion, and if it is below 50, it means more opinions expect economic contraction.