U.S. manufacturing activity slumped in March to the lowest level in nearly three years as new orders plunged

U.S. manufacturing activity slumped in March to the lowest level in nearly three years as new orders plunged, and analysts said activity could decline further due to tighter credit conditions.

The Institute for Supply Management (ISM) survey on Monday showed all subcomponents of its manufacturing PMI below the 50 threshold for the first time since 2009. Some economists said this suggested a recession was around the corner, while others said much would depend on the services sector, whose PMI remains consistent with a growing economy.

Sources:

finance.yahoo.com/news/us-manufacturing-sector-weakest-nearly-140249351.html

ycharts.com/indicators/us_ism_manufacturing_new_orders_index#