The headline PMI remained unchanged at 44.3 in March, matching the February figure and staying below the 50 mark dividing expansion from contraction for a 10th month. Analysts polled by Reuters had forecast a slight pick-up to 45.0. The survey showed the contraction in new orders slowed in March but weak demand and high prices were still having a strong impact. The output decline was the slowest since the contraction began in June last year.
Input prices also fell for the first time in over three
years, the survey said, while selling prices rose slightly.
Month/Year 03/23 02/23 03/22
Purchasing Managers' Index 44.3 44.3 54.7
Output 46.7 44.0 49.7
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(Reporting by Jason Hovet; Editing by Toby Chopra)
