ISM Manufacturing Index Falls In March To Lowest Rate Since May 2013

MarketWatch Pulse

U.S. manufacturers grew at the slowest pace in March in almost two years and employment levels also weakened, a survey of executives found. The Institute for Supply Management said its manufacturing index declined to 51.5% last month from 52.9% in February, marking the fifth straight drop and falling well short of Wall Street's forecast. Still, readings over 50% indicate more companies are expanding instead of shrinking. The employment gauge slipped 1.4 points to 50%. The ISM's new-orders index retreated to 51.8% from 52.5%. Only 10 of the 18 industries tracked by ISM reported growth last month while seven recorded a decline.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below