Today's ISM Manufacturing report casts another ray of sunshine on the US economy

Today's ISM Manufacturing report casts another ray of sunshine on the US economy. March PMI climbed to 53.7%, a 0.5% increase from last month. Manufacturing has now been in expansion mode for 10 months in a row - definitely a strong sign for the economy. The Production Index component of the report showed the most substantial gains, jumping 7.7% from February. Backlog of Orders climbed by a decent clip as well, with modest gains posted in New Orders, Imports, and Exports. What's more, of the 18 manufacturing industries that make up the index, 14 reported growth from February's levels. Overall, it's hard to see this report as anything but very good news. If hiring in the US could actually gain some traction, we actually may show some real growth one of these days. (VIEW LINK)