The manufacturing sector grew in March for the 22nd consecutive month, but at a slightly slower pace than in February.
The Institute for Supply Management said Friday that its index measuring manufacturing activity registered 55.2 in March, down from February’s 55.3 reading. The performance was a bit stronger than the 55.0 analysts had expected.
The fact that the index remained above 50 indicates that the industrial sector continued to grow last month, but at a slower pace. A figure below 50 represents a contraction.
