U.S. leather products industry achieves growth in March
According to a report released by the Association of Supply Management, a well-known research institution in the United States, on April 1, the US manufacturing industry contracted for the second consecutive month in March, but the contraction rate decreased compared with the previous month. The report shows that the US Manufacturing Activity Index compiled by the Institute of Supply Management was 48.6 in March, slightly higher than the 48.3 in February. The index equal to or higher than 50 indicates the expansion of the manufacturing industry, and lower than 50 indicates that the industry shrinks. Looking at the details of the index, the new order index for the month was 46.5, which was lower than February’s 49.1; the production index was 48.7, which was lower than February’s 50.7; the employment index was 49.2, which was higher than February’s 46.0. At the same time, the price index was 83.5, much higher than February’s 75.5; the export index was 56.5, slightly higher than February’s 56.0. The report shows that eight manufacturing sectors achieved growth in March, including clothing, leather products, primary metals, computers and electronic products, machinery and transportation equipment, etc.; manufacturing sectors that experienced a decline during the month included non-metallic mineral products, electrical equipment , Wood products, plastic and rubber products, and chemical products. The Manufacturing Activity Index was compiled by the Institute of Supply Management after surveying the purchasing and supply executives of more than 400 industrial companies across the United States. It is an important indicator reflecting the state of the US manufacturing industry and the overall economy.