U.S. Manufacturing Rebounds in March But Job Growth Stagnant Due to Layoffs

U.S. manufacturing grew for the first time in 1-1/2 years in March as production rebounded and new orders increased
But employment at factories remained subdued due to layoffs and hiring freezes
Survey suggests manufacturing sector is recovering but risks remain from rising raw material prices
Inflation at the factory gate picked up, with more manufacturers reporting higher input prices
Construction spending unexpectedly dropped in February due to weakness in nonresidential and public projects