Phynart Studio
February ISM Manufacturing PMI: 47.8 vs. 49.5 expected and 49.1 in January. The latest reading marks the 16th consecutive month in which the manufacturing sector contracted, with the index staying below 50.
By contrast, the overall economy continued in expansion for the 46th month after one month of contraction in April 2020.
“The U.S. manufacturing sector continued to contract (and at a faster rate compared to January), with demand slowing, output easing and inputs remaining accommodative,” said Timothy R. Fiore, chair of the Institute of Supply Chain Management Manufacturing Business Survey Committee.
Employment: 45.9 vs. 47.1 prior.
Prices: 52.5 vs. 52.9.
New Orders: 49.2 vs. 52.5.
Production: 48.4 vs. 50.4.
Supplier Deliveries: 50.1 vs. 49.1.
Inventories: 45.3 vs. 46.2.
Three of the six biggest manufacturing industries — Fabricated Metal Products; Chemical Products; and Transportation Equipment — recorded growth in February.
