Updated: 01-Apr-25 10:43 ET

March ISM Manufacturing Index

Updated: 01-Apr-25 10:43 ET

Highlights

• The March ISM Manufacturing Index hit 49.0% (Briefing.com consensus 49.8%) versus 50.3% in February.
• The dividing line between expansion and contraction is 50.0%, so the March reading suggests that activity in the manufacturing sector decreased compared to the prior month.

Key Factors

• The New Orders Index fell to 45.2% from 48.6% in February.
• The Production Index fell to 48.3% from 50.7% in February.
• The Prices Index jumped to 69.4% from 62.4% in February, making for the second consecutive sharp increase.
• The Employment Index fell to 44.7% from 47.6% in February.
• The Backlog of Orders Index decreased to 44.5% from 46.8% in February.
• The Supplier Deliveries Index slipped to 53.5% from 54.5% in February.
• The New Export Orders Index fell to 49.6% from 51.4% in February.

Big Picture

• The key takeaway from the report is that it paints a poor picture for the second month in a row, as the headline index slipped into contraction while prices rose sharply for the second consecutive month.

Category	MAR	FEB	JAN	DEC	NOV
Total Index	49.0	50.3	50.9	49.2	48.4
Orders	45.2	48.6	55.1	52.1	50.3
Production	48.3	50.7	52.5	49.9	47.5
Employment	44.7	47.6	50.3	45.4	48.1
Deliveries	53.5	54.5	50.9	50.1	48.7
Inventories	53.4	49.9	45.9	48.4	47.7
Export Orders	49.6	51.4	52.4	50.0	48.7
Prices paid (not seas adj)	69.4	62.4	54.9	52.5	50.3