Tempe, AZ - Manufacturing ticked down in March yet grew for the 22nd consecutive month. Growth in new orders and inventories helped offset lower production, and backlogs jumped, said the Institute for Supply Management (ism.ws).

"The manufacturing sector maintained its strength in March, ISM chairman Norbert Ore said, adding that "price inflation continues to present a problem for manufacturers."

The PMI measure of economic activity ticked down 0.1 points sequentially, to 55.2%. New orders were up 1.3 points to 57.1%. Production was almost even, at 56.5%. Employment was down 4.1 points, to 53.3%.

Electronic Components and Equipment, and Industrial and Commercial Equipment and Computers were among the sectors reporting growth.

[TABLE]

                                     Nov.       Dec.     Jan.     Feb.        March

PMI                                57.8     57.3    56.4   55.3     55.2

New orders                  61.5     61.6    56.5   55.8     57.1

Production                    57.0     56.7    57.8   56.7     56.5

Inventories                   50.7        52.8      52.8     48.6        54.1

Customer inventories   43.5        44.0      44.5     42.5        46.0

Backlogs                      47.5        54.0      50.5     50.5        56.0

Source: Institute for Supply Management, April 2005