United States PMI February 2017

United States

United States: U.S. manufacturing rises to 30-month high in February

March 1, 2017

The ISM manufacturing index advanced strongly in February, signaling faster growth in the U.S. manufacturing sector. The indicator climbed to 57.7 from 56.0 in January and also beat market expectations of 56.5. The result brought the ISM index further above the 50-threshold, indicating a faster expansion in the sector, and to the highest level since August 2014.

Looking at the details, the report provided even more upbeat results than the headline figure. Both new orders and output sub-gauges hit multi-year highs in February. Supply deliveries saw an improvement from the previous month, while inventories increased at the fastest pace in 20 months, which suggests that U.S. goods producers will slow production in the coming months. On a less upbeat note, the employment sub-index moderated from January, but remained healthy.

FocusEconomics Consensus Forecast panelists expect industrial production to have decreased 0.5% in 2016, which is up 0.3 percentage points from last month’s forecast. This year, panelists see industrial production rebounding and expanding 1.8%, which is down 0.1 percentage points from last month’s estimate.


Author:, Senior Economist

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United States PMI Chart


USA PMI February 2017

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.


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