India, April 1 -- Activity in the U.S. manufacturing sector contracted in March after two consecutive months of expansion, according to a report released by the Institute for Supply Management on Tuesday.
The ISM said its manufacturing PMI dipped to 49.0 in March from 50.3 in February, with a reading below 50 indicating contraction. Economists had expected the index to edge down to 49.5.
The modest decrease by the headline index partly reflected an accelerated contraction by new orders, as the new orders index slid to 45.2 in March from 48.6 in February.
"Orders continue to slow, as discussions about who will pay for potential tariff costs are the prime topic of negotiations between buyers and sellers," said Timothy R. Fiore, Chair of th...