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U.S. manufacturing sector continues robust growth in March

Xinhua, April 3, 2017 Adjust font size:

U.S. manufacturing sector continued robust expansion in March, signaling healthy growth momentum in the economy.

The manufacturing index, also known as the purchasing managers index (PMI), registered 57.2 in March, slightly down from the reading of 57.7 in February, the Institute for Supply Management (ISM) said in a report on Monday.

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

The new orders index edged down 0.6 points from the previous month to 64.5; production index went down 5.3 points to 57.6, while employment index surged 4.7 points to 58.9.

Of the 18 manufacturing industries, no industry reported contraction in March compared to February.

According to the ISM, businesses surveyed remained optimistic about their business, saying that business conditions and outlook continue to improve. Endite