U.S. manufacturing activity improved in March, the Institute for Supply Management said Monday.
ISM’s monthly factory index rose to a reading of 53.4, from 52.4 in February, the group said in its monthly report. Figures over 50 indicate expansion.
The index topped economists’ projections of 53 reading, Bloomberg reported.
February marks the index’s 31st straight month of expansion.
ISM’s factory index measures manufacturing components of the economy.