Markit says American manufacturing improved a little in March (USD, DXY)

Markit EconomicsMarkit’s PMI rose just a bit.

We’re finding out how the US manufacturing sector performed in March.

Markit Economics’ final purchasing manager’s index (PMI) for the month came in at 51.5, as expected, and reflecting slow improvement.

Markit senior economist Tim Moore said in the release:

March’s survey highlights sustained weakness across the US manufacturing sector, meaning that overall growth through the first quarter slowed to its lowest since late-2012. Subdued client spending patterns within the energy sector, ongoing pressure from the strong dollar, and general uncertainty about the business outlook were cited as factors weighing on new order flows in March.

At 10 a.m., the Institute of Supply Management (ISM) will release its PMI, expected at 51.

Economists expect the data to show some improvement in the sector, which has been hurt by the downturn in the energy sector and the strong US dollar.

Regional surveys from Richmond, New York, Philadelphia and Chicago showed sharp improvements for the month.

But Friday’s jobs report indicated that the sector is still bleeding jobs. Manufacturing jobs fell 29,000 in March, recording the worst month in six years.

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