Supply Chain Research

New U.S. export orders hit their highest since April 2012 in March, the latest ISM survey shows. The increase outstripped declines in imports and total orders, resulting in the 13th straight month that export orders have done better than imports. Overseas buyers may be hedging against unexpected policy changes. The slowdown in imports may also reflect slower-than-expected implementation of tariffs or the border-adjustable tax. Only British managers saw a faster increase in positive export sentiment in March, though German and Chinese surveys of export expectations also improved.