March PMI slips to 55.3
A PMI over 50 signals expansion in the manufacturing sector.
Among the PMI sub-indices, the new orders index fell from the previous month but remained over the 50-point mark.
The production volume index dropped but was over 50.
The employment index declined but indicated growth for the 18th month in a row.
The delivery times index fell and remained under 50.
The gauge of purchased inventories increased and stayed above the 50-point mark.