The Institute for Supply Management's manufacturing index remained in the growth territory in March, despite the pace of growth dropping slightly, as shown by a decline in the index to 61.2 in March from 61.4 in February. "Manufacturing is clearly growing at a solid pace led by pent-up demand for consumer durables such as motor vehicles and business equipment, including high-tech," said Daniel Meckstroth, chief economist at Manufacturers Alliance/MAPI.

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