he ISM Manufacturing Purchasing Managers’ Index (PMI) contracted for the fourth consecutive month after a 28-month period of growth in February, to 47.7, up 0.3 from January’s reading of 47.4, while it had been expected to rise to 47.9.

In details, the new orders index contracted by 47.0 points, an increase of two points compared to January’s reading (42.5), while the production index declined by about 0.7 points, to reach 47.3, and the price index rose to 48, an increase of 6.8 points.