Markit manufacturing beats expectations

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(Wikimedia Commons)

The latest manufacturing reading from Markit came in at 55.7, beating expectations.

Expectations were for the reading to come in at 55.3.

According to Markit, "March data pointed to a positive month for U.S. manufacturing business conditions, with momentum building again after a slowdown at the turn of the year. This was highlighted by stronger rates of output and new business growth, alongside sustained job creation during the latest survey period."

In a release, Markit's Chris Williamson said:

The U.S. manufacturing sector is clearly regaining momentum after a slow start to 2015. Stronger new order growth and rising input buying in March should help set the scene for improving production trends into the second quarter of the year. Moreover, job creation has remained resilient in recent months, and falling raw material costs continue to support operating margins.

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