The ISM Manufacturing Index registered 60.8 points in February, 2.1 percentage points higher than the January reading of 58.7%. This indicates expansion in the overall economy for the ninth month in a row. Sixteen of the 18 manufacturing industries reported growth in February.
The Employment Index registered 54.4% in February; 1.8 percentage points higher than the January reading of 52.6%. This was the third month in a row of growth for the index with five industries (Chemical Products; Food, Beverage & Tobacco Products; Transportation Equipment; Computer & Electronic Products; and Fabricated Metal Products) expanding.
The New Orders Index registered 64.8% in February, up 3.7 percentage points compared to the 61.1% reported in January. This indicates that new orders grew for the ninth consecutive month.
The New Export Orders Index was 57.2%, 2.3 percentage higher than the January reading of 54.9%.
The Inventories Index registered 49.7%in February; 1.1 percentage points lower than the 50.8% reported for January. Inventories contracted after four consecutive months of marginal growth.
Read the ISM release.