3/25/22 – MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY


Overall private sector economy accelerates in March

The headline Flash US PMI Composite Output Index registered 58.5 in March, up from 55.9 in February, to indicate the fastest rise in private sector output since July 2021.  The sharp expansion was broad-based and signaled a further recovery from January’s Omicron-induced slowdown.


Service sector economic index jumps in March as backlog builds

At 58.9 in March, up from 56.5 in February, the US Services Business Activity Index signaled the strongest rise in output for eight months.  Greater activity was driven by a marked increase in new business that was the sharpest since June 2021, as demand conditions strengthened.


Manufacturing sector economic index rises in March as customers seek to stockpile now

The US Manufacturing PMI posted 58.5 in March, up from 57.3 in February, to indicate an improvement in operating conditions across the manufacturing sector.  Stronger expansions in output, new orders, employment and stocks of purchases helped support the overall uptick.