The ISM Manufacturing Index increased 0.3 points in March to 52.7, beating consensus expectations for a slight moderation to 52.3. The index started the year strong, solidly in expansion territory for three consecutive months now. However, the impact of the Iran war is showing up in manufacturers’ prices paid index, which surged 7.8 points to an extremely elevated 78.3, the highest reading since June 2022. The prices paid index over the past six months has averaged a cooler 63.8. The manufacturing sector is rebounding on inventory rebuilding as customer inventories increased from low levels, and the production index ... (full story)