ISM Manufacturing Index Slips in March

U.S. manufacturing activity fell slightly in March from its highest level in almost seven years, the Institute for Supply Management said Friday.

ISM’s monthly factory index fell to a reading of 61.2, from a 61.4 reading in February, the group said. Figures over 50 indicate expansion.

February’s reading had been the best showing since the index registered the same reading in May 2004, and had marked the index’s seventh straight month of growth.

The March reading was slightly higher than economists’ forecast of a 61.1 reading, Bloomberg reported.

ISM’s factory index measures manufacturing components of the economy.