- Prior was -10
- Services +9 vs -8 prior
- Manufacturing shipments -2 vs -13 prior
This is a nice bounce and the zero reading on the headline is the best since February 2025.
Current Conditions:
Shipments: -2 vs -13 prior
New Orders: +4 vs -9 prior
Employment: -2 vs -7 prior
Backlog of Orders: -10 vs -14 prior
Capacity Utilization: -5 vs -12 prior
Vendor Lead Time: +13 vs -1 prior
Local Business Conditions: -5 vs -15 prior
Capital Expenditures: -6 vs -5 prior
Finished Goods Inventories: +5 vs +7 prior
Raw Materials Inventories: +4 vs +11 prior
Equipment & Software Spending: -8 vs -8 prior
Services Expenditures: -14 vs -20 prior
Wages: +14 vs +18 prior
Availability of Skills Needed: -12 vs -15 prior
Price Trends (12-month % change):
Prices Paid: 6.11% vs 6.52% prior
Prices Received: 4.85% vs 4.25% prior
New orders flipped positive for the first time in recent months. Vendor lead times surged, suggesting potential supply-side tightening. Services spending remains deeply negative. Firms still expect price growth to moderate over the next 12 months, though prices received accelerated in March.
