"US Manufacturing Surges Despite Rising Raw Material Prices"
The US manufacturing sector showed signs of recovery in March, with the ISM manufacturing PMI rising to 50.3, the first reading above 50 since September 2022. New orders and production rebounded, but employment at factories remained subdued. Rising raw material prices pose a potential obstacle, indicating possible goods inflation in the coming months. Meanwhile, construction spending unexpectedly dropped 0.3% in February, but strong growth in manufacturing production is expected to support overall economic growth in the first quarter.
