U.S. Manufacturing Sector Shows Signs of Growth in March after Contractions

• US manufacturing sector in strongest position since 2022, ISM and S&P Global reports show • ISM manufacturing PMI hits 50.3 in March, indicating first expansion since October 2022 • S&P Global measure shows production reached 22-month high in March • Reports show uptick in new orders and production after prior month's contraction • Rising prices remain a concern, potentially challenging for Fed's inflation target