Activity in the U.S. manufacturing sector contracted in March after two consecutive months of expansion, according to a report released by the Institute for Supply Management on Tuesday.
The ISM said its manufacturing PMI dipped to 49.0 in March from 50.3 in February, with a reading below 50 indicating contraction. Economists had expected the index to edge down to 49.5.
The modest decrease by the headline index partly reflected an accelerated contraction by new orders, as the new orders index slid to 45.2 in March from 48.6 in February.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.