March brought the strongest manufacturing growth in more than 37 years, and with it increasing indications about inflation pressures in the months ahead. The Institute for Supply Management’s monthly manufacturing survey registered a 64.7% reading, representing the level of companies reporting expansion against contraction. That translated to a 3.9 percentage point increase from February, and the highest level since December 1983. “Widespread supply chain issues. Suppliers are struggling to manage demand and capacity in the face of chronic logistics and labor issues. No end in sight,” wrote a respondent in the machinery field.
Manufacturing expanded at the fastest pace since December 1983, according to a survey released Thursday.