4/6: MetroIntelligence Economic Update by P. Duffy

Private sector jobs grew by 263,000 in March

Private sector employment increased by 263,000 jobs from February

to March according to the March ADP National Employment Report.  Gains were broad based, and the highest rate noted over the past year.

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Source: ADP Research Institute

 

Manufacturing sector index rose 0.5 points to 57.2 in March

The March PMI® registered 57.2 percent, a decrease of 0.5 percentage point from the February reading of 57.7 percent. Consistent with generally positive comments from the panel, all 18 industries reported growth in new orders for the month of March.

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Source: Institute for Supply Management
Service sector economy index slipped 2.4 points in March to 55.2

The NMI® registered 55.2 percent, which is 2.4 percentage points lower than the February reading of 57.6 percent. The majority of respondents’ comments indicate a positive outlook on business conditions and the overall economy. There were several comments about the uncertainty of future government policies on health care, trade and immigration, and the potential impact on business.

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Source: Institute for Supply Management

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