Prior was -10Services +9 vs -8 priorManufacturing shipments -2 vs -13 prior
This is a nice bounce and the zero reading on the headline is the best since February 2025.
Current Conditions:
Shipments: -2 vs -13 prior
New Orders: +4 vs -9 prior
Employment: -2 vs -7 prior
Backlog of Orders: -10 vs -14 prior
Capacity Utilization: -5 vs -12 prior
Vendor Lead Time: +13 vs -1 prior
Local Business Conditions: -5 vs -15 prior
Capital Expenditures: -6 vs -5 prior
Finished Goods Inventories: +5 vs +7 prior
Raw Materials Inventories: +4 vs +11 prior
Equipment & Software Spending: -8 vs -8 prior
Services Expenditures: -14 vs -20 prior
Wages: +14 vs +18 prior
Availability of Skills Needed: -12 vs -15 prior
Price Trends (12-month % change):
Prices Paid: 6.11% vs 6.52% prior
Prices Received: 4.85% vs 4.25% prior
New orders flipped positive for the first time in recent months. Vendor lead times surged, suggesting potential supply-side tightening. Services spending remains deeply negative. Firms still expect price growth to moderate over the next 12 months, though prices received accelerated in March.
This article was written by Adam Button at investinglive.com.