United States: ISM moderates further in February
March 2, 2015
In February, the ISM manufacturing index decreased from the 53.5% recorded in January to 52.9%. The result was roughly in line with market expectations of a moderation to 53.0% and marked the lowest reading in just over a year. However, the index remains above the 50.0% threshold that indicates expansion in the manufacturing sector.
The index was mainly dragged down by declines in the production and employment categories. New orders also slowed compared to the previous month. In contrast, inventories ticked up in January.
Author: Carl Kelly, Economist