ISM Mar Manufacturing PMI Rose To 64.7 vs Feb 60.8, Near 4-Decade High

US ISM NEW ORDERS INDEX 68.0 MAR VS 64.8 FEB

US ISM EMPLOYMENT INDEX 59.6 MAR VS 54.4 FEB

US ISM PRODUCTION INDEX 68.1 MAR VS 63.2 FEB

US ISM SUPPLIER DELIVERY INDEX 76.6 MAR VS 72.0 FEB

US ISM INVENTORIES INDEX 50.8 MAR VS 49.7 FEB

The ISM Mfg PMI rose 3.9pt to 64.7 in Mar, hitting the highest level since Dec 1983. The index remains in expansion territory since Jun 2020. All main five categories saw a monthly gain with Employment recording the largest increase, up 5.2pt, followed by Production which rose 4.9pt. Supplier Deliveries ticked up 4.6pt to the highest level since Apr 1974, while Inventories shifted back to expansion, up 1.1pt. New Orders increased for the second consecutive month and rose 3.2pt in Mar. Among the other categories, Order Backlogs saw the biggest gain and rose to a record high of 67.5, followed by Imports which edged up 0.6pt to 56.7. Exports recorded the largest decline by 2.7pt to 54.5, while Customer's inventory ticked down 2.6pt to 29.9 which is the lowest level since the series began. Prices eased by 0.4pt to 85.6, but the indicator remains elevated by historical standards.