Type to search

Data & Reports Illinois International Midwest News Public Policy US

US manufacturing’s outlook met with mixed reviews

TMA Media April 17, 2019

Financial forecasters sometimes share differing views. While the ISM Manufacturing Index optimistically reported a long-term manufacturing increase in March, Bloomberg looked to Federal Reserve data with a slightly different conclusion.

The ISM Manufacturing Index reported new orders index increased 1.9% to 57.4% in March. Meanwhile, the production index increased from 1% to hit 55.8%. Anything over 50% is considered “expansion.”

On the other hand, Bloomberg reports manufacturing remaining steady in March after falling slightly in February.

U.S. factory production stalled in March as motor-vehicle output declined, adding to signs of headwinds for manufacturing and economic growth around the world.

Manufacturing output was unchanged from February after falling a revised 0.3%, Federal Reserve data showed Tuesday. That compared with the median estimate for a 0.1% increase in Bloomberg’s survey of economists. Total industrial production, which also includes mines and utilities, fell 0.1%, also trailing forecasts for a gain and following a 0.1% advance.

Machinery production rose 0.5%, while output of consumer goods fell 0.2%, and business-equipment production rose 0.4%, Bloomberg reported.

More on Bloomberg’s review HERE. More on the ISM Manufacturing Index’s HERE.