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U.S. manufacturing sector sees first expansion since August

Xinhua, April 2, 2016 Adjust font size:

The United States reported expansion in its manufacturing activity in March, the first growth of the kind since August 2015, fueled by the surge in orders.

The manufacturing index of the country, also known as the purchasing managers index (PMI), registered 51.8 in March, an increase of 2.3 points from February's reading of 49.5, the Institute for Supply Management (ISM) said in a report Friday.

A reading above 50 indicates the sector is generally expanding, while a reading below that level indicates contraction.

The new orders index rose 6.8 points from February to 58.3, which helped boost the increase of the PMI reading.

Most of the industries surveyed said their business conditions remained stable or improved, with more orders coming in. Endit