U.S. manufacturing activity up again
Economic activity in the nation’s manufacturing sector expanded in February for the ninth consecutive month, according to U.S. supply executives in the latest manufacturing report by the Institute for Supply Management (ISM).
The report, released today, said last month’s purchasing managers’ index (PMI) rose 1.9 percentage points from a reading of 51.3 in January, indicating continued expansion in the manufacturing sector, according to the ISM.
Meanwhile, new orders jumped a healthier 3.3 percent.
On the other side, however, the ISM’s production index fell 6.6 percentage points from January, while inventories of raw materials increased 8.5 percentage points. The ISM said it had fielded several comments indicating that adverse weather in January played a factor in the drop in production and the jump in inventories.
But other comments struck optimistic outlooks for demand and growth this year.
WBJ Web Partners
Most Recent
Most Recent
0 Comments