The latest report by IHS Markit revealed on Monday the seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index(PMI) fell to 52.4 in March, down from 53.0 in February, and broadly in line with the “flash” figure of 52.5. 

The reading pointed to slowest growth in factory activity since June 2017 and was notably softer than the trend seen for 2018.

Economists had forecast the index to stay unrevised at 52.5.

According to the report, softer increases in output and new orders were the key factor behind the lower headline figure.