US March Manufacturing PMI Preliminary 49.8…Below Market Expectations

The United States' March Manufacturing Purchasing Managers' Index (PMI) fell short of expectations.

On the 24th (local time), S&P Global announced that the Manufacturing Purchasing Managers' Index was 49.8, below Wall Street's expectation of 51.9.

The S&P Global report stated, "This preliminary manufacturing PMI fell below the PMI benchmark of 50, indicating a shift to economic contraction," and evaluated it as "contrasting with the rise shown in January and February."

Chris Williamson, Chief Economist at S&P Global, said, "The effect of pre-orders in manufacturing has disappeared before the implementation of tariffs, leading to a downturn."

The Purchasing Managers' Index (PMI) uses 50 as a benchmark to gauge whether the economy is expanding or contracting. A PMI above 50 indicates economic expansion, while below 50 indicates contraction.

The preliminary PMI is released before the final PMI at the end of the month and is used as an indicator to quickly assess the economic situation.