US: ISM Manufacturing PMI improves to 55.3 in March vs 54.2 expected

"The March PMI® registered 55.3 percent, an increase of 1.1 percentage points from the February reading of 54.2 percent," the ISM reported on Monday. This reading came in better than the market expectation of 54.2

Key takeaways from the press release

• The Production Index registered 55.8 percent, a 1-percentage point increase compared to the February reading of 54.8 percent.
• The Employment Index registered 57.5 percent, an increase of 5.2 percentage points from the February reading of 52.3 percent.
• The Supplier Deliveries Index registered 54.2 percent, a 0.7 percentage point decrease from the February reading of 54.9 percent.
• The Inventories Index registered 51.8 percent, a decrease of 1.6 percentage points from the February reading of 53.4 percent.
• The Prices Index registered 54.3 percent, a 4.9-percentage point increase from the February reading of 49.4 percent, indicating a return of increasing raw materials prices after a two-month respite.