Manufacturing expanded in February, according to the latest Manufacturing Institute for Supply Management Report on Business.
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The PMI registered 52.4 percent, a decrease of 1.7 percentage points from January's reading of 54.1 percent, indicating expansion in the manufacturing sector.
The New Orders Index registered 54.9 percent, a decrease of 2.7 percentage points from January's reading of 57.6 percent – still indicating growth. Prices of raw materials increased for the second consecutive month, with the Prices Index registering 61.5 percent.
As was the case in January, new orders, production and employment all grew in February –although at somewhat slower rates than in January. Respondents still expect positive growth in the next few months. More details at ism.ws.