U.S. March factory activity growth slows slightly: Markit

U.S. manufacturing activity slowed in March after nearing a four-year high last month, but the rate of growth and the pace of hiring remained strong, an industry report showed on Monday. Financial data firm Markit said its "flash" or preliminary U.S. Manufacturing Purchasing Managers Index slipped to 55.5 from 57.1 in February. The new orders component fell to 58.0 from 59.6 in February, partly the result of a decline in overseas demand, Markit said. The survey "adds to evidence that the sector has shrugged off the weather-related weakness seen earlier in the year," said Markit chief economist Chris Williamson, adding the still solid showings for output and new orders was "encouraging news."

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