- Markit Manufacturing PMI in US improved modestly in March.
- US Dollar Index closes in on 93.00 after the data.
The IHS Markit’s Manufacturing PMI for the US rose to 59.1 (final) in March from 58.6 in February. This reading came in slightly better than the flash estimate of 59 and showed an ongoing expansion in the manufacturing sector’s business activity at a strong pace.
Commenting on the data, “the fastest rates of increase for both new orders and prices were reported among producers of consumer goods,” noted Chris Williamson, Chief Business Economist at IHS Markit.
“With business expectations becoming even more optimistic in March, further strong production growth looks likely in the second quarter,” Williamson added. “The big question will be whether rising price pressures also become more entrenched.”
Market reaction
The US Dollar Index stays under modest bearish pressure after this report and was last seen losing 0.22% on the day at 93.02.
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