The Institute for Supply Management's (ISM) manufacturing Purchasing Managers' Index (PMI) for March posted a strong 57.2. Internal numbers were robust, with the employment component rising to the highest level since June 201. There were, solid new orders, and a meaningful rise in new export orders. Improving global growth, a stabilizing dollar, and a rebound in oil prices have all been contributing to the rebound in manufacturing, which may be part of a developing trend of accelerating business spending in 2017. (LPL Research)
February's trade deficit came in at $-43.2 billion, a sizable improvement on January's disappointing $-48.2 billion. The data should provide a boost to first quarter 2017 gross domestic product (GDP), to be released later this month. The improved data were largely driven by a decline in imports (-1.8%), but did show a small gain in exports (0.2%), a positive sign for global growth, with the total value of exports rising to their highest level since 2012. (LPL Research)
LinkedIn Workforce Report says employers hired fewer people in March, but year-over-year hiring remained strong. Hiring the U.S. was 5.8% higher than March 2016.
Hiring in the oil and energy industry was up by 30.8% from March 2016. (AP)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.