US industrial activity slows unexpectedly in March

The US Institute of Supply Management (ISM) said that the US manufacturing purchasing managers' index fell to 57.1 points in March from 58.6 points in February. Analysts had expected that manufacturing activity, which represents 11.9% of the US economy, would rise to 59.0 points in March.

The new orders index fell to 53.8 points in March from 61.7 points in February, and the survey's measure of supplier deliveries fell to 65.4 points in March from 66.1 points in February. The employment index rose to 56.3 points in March from 52.9 points in February, and the survey gauge of prices paid by manufacturers rose to 87.1 points in March from 75.6 points in February.