Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The PMI in the US manufacturing sector fell to the lowest since May 2020


April, 03 2023
watermark Economic news

According to the Institute for Supply Management (ISM), the index of business activity in the US manufacturing sector (ISM Manufacturing) in March fell to the lowest value since May 2020 – 46.3 points. A month earlier, the indicator was marked at the level of 47.7 points.


Analysts on average predicted a decrease in the index to 47.5 points. The indicator value below 50 points indicates a decline in activity in the sector.


The index of new orders fell to 44.3 from 47, and the employment index to 46.9 from 49.1. The inflation component, the index of paid prices, fell to 49.2 from 51.3, while analysts expected an increase to 53.8 points.


Experts note that since the members of the Committee on the survey of Entrepreneurs reported a decrease in the growth rate of new orders over the past 10 months, the readings of the March composite index reflect that companies continue to reduce production rates in order to better meet demand for the first half of 2023 and prepare for growth in late summer and early autumn.


After the release of the data, the dollar was under pressure, as a result of which the US dollar index lost 0.5%, reaching 101.665.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.