The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) for February was 52.7, up 1.5 points from January, marking the second consecutive month of progress and the highest growth rate since June 2022. Manufacturers reported improvements in new orders and output amid client concerns about potential supply chain issues and higher prices in the coming months.
The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times, and stocks of raw materials. A reading above 50 indicates growth, while below represents a contraction. See S&P Global