ISM: 'March not a good month'. (Market Watch).
Norbert Ore, chair of the Institute for Supply Management, which releases the report, said, "March wasn't a good month for manufacturing, as the sector appears to have lost its momentum."
New orders fell below 50%, breaking a six-month growth spurt, and production dropped below 50% for the first time in 16 months. Order backlogs fell for the ninth straight month, while supplier deliveries slowed for the 15th consecutive month. Manufacturer prices rose for the 13th straight month. New export orders grew for the 15th consecutive month, while imports grew for the fifth time in a row. The employment index was below breakeven for the 30th straight month.
Anecdotal comments from purchasing and supply executives focused on war, soft demand, energy availability and escalating prices.
March Madness NOV. DEC. JAN. FEB. MARCH PMI 49.2 54.7 53.9 50.5 46.2 New orders 49.9 63.3 59.7 52.3 46.2 Production 54.6 55.6 56.3 55.4 46.3 Inventories 42.1 46.2 46.2 43.8 42.3 Customer inventories 46.5 43.0 43.0 46.0 42.0 Backlogs 42.5 46.5 46.5 49.0 41.5 Source: Institute for Supply Management, April 2003
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|Title Annotation:||Institute for Supply Management|
|Publication:||Printed Circuit Design & Manufacture|
|Article Type:||Brief Article|
|Date:||May 1, 2003|
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