Manufacturing expanded at a quicker pace during March in nine Midwestern states. The regional Purchasing Manager Index (PMI) rose to 58.2 from 57.4 of February, according to a survey of purchasing managers conducted by Creighton University.
Ernie Goss, director of the economic forecasting group at Creighton University, said in an announcement that supply managers reported healthy business activity despite the severe weather of the first quarter.
A similar national survey by the Institute for Supply Management also found faster manufacturing growth nationwide. Its PMI index showed a rise to 53.7 from 53.2 in February.
The Purchasing Managers Index evaluates five indicators: new orders, inventory levels, production, supplier deliveries and the employment environment. A score higher than 50 indicates expansion in manufacturing activity.