🇺🇸🔻All ISM Sub-Indices Fall Below 50.0 In March: Cable FX Macro

• The manufacturing gauge resumed its downtrend in March, the index fell to 46.3 from the prior 47.7. This is the lowest level since May 2020 as the headline sees the steepest decline since September. The ISM manufacturing printed at 57.1 a year ago and at 50.9 six months ago.

• Last month had seen a rebound in prices while inventories held in expansionary territory. The March index sees all components fall below 50.0 as new orders and inventories post the largest declines. Production rebounded to 47.8.