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- U.S. manufacturing activity expanded slightly more than initially estimated in February - IHS Markit
U.S. manufacturing activity expanded slightly more than initially estimated in February - IHS Markit
The latest
report by IHS Markit revealed on Monday the seasonally adjusted IHS Markit
final U.S. Manufacturing Purchasing Managers’ Index(PMI) came in at 58.6 in February,
down from 59.2 in January but slightly up from the earlier released “flash”
reading of 58.5. The February reading pointed to the second-strongest
improvement in factory activity since April 2010.
Economists had
forecast the index to stay unrevised at 58.5.
According to
the report, the headline figure was supported by sharp increases in output and new
orders. In addition, employment grew at the steepest rate since September 2014,
as business confidence also improved.
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