Keeping you up to date on the latest data releases.
- ISM Manufacturing
The ISM’s Manufacturing Purchasing Managers Index (PMI) came in below consensus expectations, falling from 54.1 to 52.4 in February, but remains above its growth threshold of 50. The decline was the first in three months, as not a single component of the diffusion index recorded an increase. Decreases were led by the supplier deliveries index, which tumbled 4.6 percentage points to 49.0, its lowest reading since May 2009. New orders also fell 2.7 points to an index level of 54.9, and the employment index dropped for the third straight month to an index level of 53.2 in February. A smaller decline pushed the production index from 55.7 to 55.3, and the inventories index remained constant at 49.5. The prices index (which is not seasonally adjusted and does not enter into the overall PMI) recorded a second consecutive month of large gains, adding 6.0 points and increasing to 61.5 in February.