United States PMI

United States

Manufacturing picks back up in February

In February, the ISM manufacturing index rose to 53.2%, marking an improvement over the 51.3% recorded in January. The result exceeded market expectations of a rise to 52.0%. The index recovered some of the ground lost in previous months and is still just above the 50.0% threshold that indicates expansion in the manufacturing sector.

Three of the five ISM indicators registered gains over the previous month. Inventories jumped significantly, rising from 44.0% to 52.5%. Supplier deliveries and new orders also increased. Employment did not change and production fell from 54.8% to 48.2%.

FocusEconomics Consensus Forecast panelists project that industrial output will increase 3.7% this year, which is down 0.2 percentage points from last month's forecast. For 2015, panelists see industrial production accelerating to a 4.1% expansion.

Author:, Economist

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United States PMI Chart

USA PMI February 2014

Note: Composite index in the Manufacturing Report on Business (PMI). Readings above 50% indicate an expansion in the manufacturing sector while readings below 50% point to a contraction.
Source: Institute for Supply Management (ISM).

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