The U.S. manufacturing sector contracted in February, Manufacturing PMI® registered 47.8%, down 1.3 percentage points (pp) from the seasonally adjusted 49.1% recorded in January. Regarding the overall economy, this figure indicates that the economy continued in expansion for the 46th month after one month of contraction in April 2020 (a manufacturing PMI® above 42.5%, over a period of time, generally indicates an expansion of the overall economy).
The Employment Index registered 45.9%, down 1.2 pp from January’s figure of 47.1%.
The Prices Index registered 52.5%, down 0.4 pp compared to the reading of 52.9% in January.
The New Orders Index moved back into contraction territory at 49.2%, 3.3 pp lower than the 52.5% recorded in January.
The New Export Orders Index reading of 51.6% is 6.4 pp higher than January’s figure of 45.2%.
The Inventories Index decreased 0.9 pp to 45.3%; the January reading was 46.2%.
Read the ISM release.
