Markit Economics released its final manufacturing purchasing managers' index (PMI) for the U.S. on Friday. The U.S. final manufacturing purchasing managers' index (PMI) increased to 51.5 in March from 51.3 in February, up from the previous estimate of 51.4.

A reading above 50 indicates expansion in economic activity.

The index was driven by a faster pace of growth in new business.

"March's survey highlights sustained weakness across the US manufacturing sector, meaning that overall growth through the first quarter slowed to its lowest since late-2012," Markit's Senior Economist Tim Moore said.