The institute’s index of business activity rose to 55.6 in March from 54.7 in February. An index above 50 signifies growth in manufacturing, while a figure below 50 shows contraction.
Analysts were expecting a reading of 54.3 in March.
Manufacturing increases for second month
TEMPE, Ariz.-- Manufacturing activity rose for the second month in a row, the Institute for Supply Management recently reported.
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