The index Institute for Supply Management (ISM) Manufacturing PMI has risen 2.5 points in March, rising to 50.3 from 47.8 in February, its highest level in eighteen months, specifically since September 2022. This is the first time in seventeen months that the indicator is in expansion territory. Furthermore, the PMI improves market expectations, which forecast a slight increase to 48.4 points.
He ISM manufacturing employment index has improved to 47.4 from 45.9, its highest score in three months. The new orders indicator has advanced to 51.4 from 49.2 while the ISM prices paid has jumped to 55.8 from 52.5, improving the estimated 52.6 points and reaching its best level since July 2022.
dollar reaction
The improvement in the ISM manufacturing data has caused a sharp rise in the Dollar Index (DXY) which has risen from around 104.70 to 104.91, new high since February 14.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
