These numbers are lagging and all the counters had moved before the number are annoucned. You should use it as an industry/market indicator to determine the direction.
like choon yuan shared, you should be looking at index instead of indivdual companies if you are using these numbers as a guidance.
Whew, 3rd April 2019, I hope you did bought into manufacturing stocks. Look at Venture Corporation, AEM, UMS. 52 week highs for some of them. But I guess manufacturing doesn't mean much, import/exports/GDP would serve as better economic indicators for me.
Manufacturing and non-manufacturing PMI are good indicators of the global economy
However they are lagging indicators and it dosent mean a long term trend, if you buy indexes, just buy dont time the market. If you are buying company specific, make sure you understand if the company has a moat or otherwsie