U.S. manufacturing rebounds in March, ISM index shows

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U.S. manufacturing rebounds in March, ISM index shows
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The Institute for Supply Management said Monday its factory index rose to 55.3 in March after hitting a two-year low in February.

The numbers: American manufacturing recovered a bit in March after hitting a two-year low in the prior month.

Another measure, the IHS Markit manufacturing purchasing managers index, fell to 52.4 vs. 53 in February, the lowest reading since June 2017.What happened: The index for new orders jumped 1.9 points to 57.4%, while production rose 1 point to 55.8%. Employment surged 5.2 points to 57.5%. Sixteen of the 18 U.S. manufacturing industries surveyed by ISM expanded in March.

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