US manufacturing activity expands in February

Wednesday, 01 March 2017 00:16:28 (GMT+3)   |   San Diego
       

Economic activity in the manufacturing sector expanded in February, and the overall economy grew for the 93rd consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business. The February PMI registered 57.7 percent, an increase of 1.7 percentage points from the January reading of 56 percent.
 
The New Orders Index registered 65.1 percent, an increase of 4.7 percentage points from the January reading of 60.4 percent.
 
The Production Index registered 62.9 percent, 1.5 percentage points higher than the January reading of 61.4 percent.
 
The Employment Index registered 54.2 percent, a decrease of 1.9 percentage points from the January reading of 56.1 percent.
 
Inventories of raw materials registered 51.5 percent, an increase of 3 percentage points from the January reading of 48.5 percent.
 
The Prices Index registered 68 percent in February, a decrease of 1 percentage point from the January reading of 69 percent, indicating higher raw materials prices for the 12th consecutive month.
 
Comments from the report largely indicate strong sales and demand, and reflect a positive view of business conditions with a watchful eye on commodities and the potential for inflation.
 
Of the 18 manufacturing industries, 17 reported growth in February in the following order: textile mills; apparel, leather and allied products; machinery; computer and electronic products; primary metals; plastics and rubber products; nonmetallic mineral products; chemical products; paper products; fabricated metal products; transportation equipment; food, beverage and tobacco products; wood products; electrical equipment, appliances and components; printing and related support activities; petroleum and coal products; and miscellaneous manufacturing. The only industry reporting contraction in February is furniture and related products.

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