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The US manufacturing sector saw robust growth in March, marking the highest reading since December 1983, the Institute for Supply Management (ISM) reported Thursday. The Purchasing Managers Index (PMI) stood at 64.7 per cent, up 3.9 percentage points from the February reading. Any reading above 50 per cent indicates the manufacturing sector is generally expanding as reported by Xinhua. The March PMI indicates expansion in the overall economy for the 10th month in a row after contracting in March, April, and May last year, according to the ISM report. While many components shot higher, a key factor was supply-chain constraints which drove supplier deliveries to its highest mark since 1974, Sarah House and Tim Quinlan, senior economists at Wells Fargo Securities, wrote in an analysis. The ISM report showed that supplier deliveries jumped to 76.6 in March as reported by Xinhua.

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