US 5th District Factory Activity Unexpectedly Shrinks
The composite manufacturing index for the US Fifth District declined to -4 in March 2025, a shift from +6 in February, contradicting market predictions of a rise to +8. This indicates a renewed downturn in the manufacturing sector, primarily driven by a significant decline in the shipments index, which fell from 12 to -7. Among the other two key indexes, new orders dipped slightly to -4, and employment saw a reduction from 9 to -1. The index measuring local business conditions dropped from -5 in February to -13 in March, while expectations for future local business conditions plummeted from 2 to -22. The future shipments index also decreased, moving from 13 to 7, and the future new orders index slipped slightly to 6. On a brighter note, the vendor lead time index increased to 12 in March, and the backlog of orders rose from -6 to -1. There was a notable uptick in the average growth rate of prices paid, while the growth rate of prices received increased at a more moderate pace. Looking ahead, firms anticipate more pronounced price hikes for inputs and modest growth in prices received over the next year.
The material has been provided by - RobotFX
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