The manufacturing sector’s growth slowed in March, according to the Institute for Supply Management. The composite reading for ISM’s Manufacturing index dropped to 51.3, down from 54.2 in February. Values above the neutral 50 mark indicate growth. New orders for manufactured goods also declined, according to ISM data, slumping to 51.4 from 57.8 previously.
Daily Archives: April 1, 2013
Major Asset Classes | March 2013 | Performance Review
March was kind to US equities. The domestic stock market gained 3.9% last month. Foreign REITs performed nearly as well with a 3.8% advance. Bonds, by contrast, struggled last month, with a broad investment-grade measure of US fixed-income rising only 0.1%. The big loser in the month just passed: emerging market stocks, which shed 1.7%, in part because of a stronger dollar in March. The US Dollar Index rose again in March and for the year so far has increased by 8.1%. The greenback’s strength has been a significant headwind for foreign assets after translating results into US dollars.