U.S. basic material sector hints at rapid output growth in March

The latest U.S. Sector PMI data showed that the basic materials sector hinted at a more rapid output growth in March. Furthermore, the pace of growth was sharp overall and the second-fastest in three years. Even if the output growth in the consumer goods sector stayed strong, it has alleviated since February. The pace of growth was in fact the most subdued since May 2016.

The financial sector hinted at a softer pace of output growth in March after a surge in February. Although it was a strong rise overall, it was the second-weakest growth in 11 months. Similarly, the healthcare and industrials sector showed weaker rise in output, with the healthcare sector signaling the most subdued upturn for three month. Meanwhile, the technology sector was the only monitored segment to record a decline in output. The fall was just fractional, but it was the first in the sector since February 2016.

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