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US manufacturing sector growth accelerates in March, but inflation intensifies due to war in Middle East
US manufacturing performance improved in March, with growth solid and picking up since February amid better gains in both output and new orders. However, with tariffs continuing to negatively impact new export sales, growth was principally driven by higher domestic demand. Moreover, this in part reflected some client safety stock building due to the war in the Middle East, which drove up inflation and added to supply-chain stress. March’s survey signaled notable accelerations in both input and output price inflation, whilst the time taken to deliver inputs to manufacturers deteriorated to the greatest degree since ... (full story)