Keeping you up to date on the latest data releases.
- ISM Manufacturing
The ISM report continued its upward trend and indicated that the manufacturing sector expanded in the month of February. The Purchasing Managers Index (PMI) increased 1.1 percent to 54.2 percent, its third consecutive month above 50 and highest level since June 2011 where it registered 55.8 percent. The report showed a strong indication of growth within the manufacturing sector as this was the second consecutive month where each of the five components of the PMI were above the growth threshold of 50. The largest mover within the PMI?s five components was new orders, which increased 4.5 percent from its January level of 53.3 percent to 57.8 percent, the second consecutive month above 50. Production also grew in February by 4.0 percent to 57.6 percent from its previous level of 53.6 percent. The other components were as follows: inventories ticked up slightly to 51.5 percent from 51.0 percent, supplier deliveries shrank 2.2 percent to 51.4 percent from 53.6 percent, and employment shrank 1.4 percent from 54.0 percent to 52.6 percent. Furthermore, backlog of orders increased 7.5 percent to 55.0 percent from 47.5 percent. The other indexes of manufacturing trade within the report also grew with exports increasing 3.0 percent to 53.5 percent and imports increasing 4.0 percent to 54.0 percent.