Manufacturing sector picks up in March: ISM

Reuters News
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Posted: Apr 02, 2012 10:10 AM

NEW YORK (Reuters) - The pace of growth in the manufacturing sector picked up a tad in March, while new orders dipped modestly, according to an industry report released on Mon day.

The Institute for Supply Management said its index of national factory activity rose to 53.4 from 52.4 in February, topping economists' expectations of 53.0.

A reading above 50 indicates expansion in the manufacturing sector, while a number below 50 means contraction.

New orders edged down to 54.5 from 54.9 and prices paid also eased to 61.0 from 61.5.

(Reporting by Leah Schnurr; Editing by James Dalgleish)