U.S. PMI growth at two-year high, positive signals boost dollar strength
In terms of economic performance, continued PMI data above 50 shows that U.S. private sector economic activity is still expanding。
The U.S. private sector continued its healthy pace of expansion in early March, with the S & P Global Aggregate Purchasing Managers Index (PMI) at 52.2, but slightly lower than February's 52.5。
Commenting on the findings, S & P's chief business economist for global market intelligence commented: "Further expansion in manufacturing and services in March helped end the strongest quarter for the U.S. economy since the second quarter of last year.。"
It added: "Survey data shows that as businesses continue to report growth in new orders, coupled with the recent pick-up in demand, the sharp rise in costs has further exacerbated inflationary pressures, while strengthening price power, which means that inflationary pressures rose again in March.。"
Dollar continues to strengthen after PMI data。Dollar Index Last Quoted Up 0.35% to 103.72。
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