Economic activity in the US manufacturing sector contracted in February for the 16th consecutive month following one month of "unchanged" status (a PMI reading of 50 percent) and 28 months of growth prior to that, according to the latest Manufacturing ISM Report On Business.
The Manufacturing PMI registered 47.8 percent in February, down 1.3 percentage points from the 49.1 percent recorded in January. The overall economy continued in expansion for the 46th month after one month of contraction in April 2020. Index breakdown:
| Index | February level | January level |
| New Orders | 49.2 | 52.5 |
| Production | 48.4 | 50.4 |
| Prices | 52.5 | 52.9 |
| Backlog of Orders | 46.3 | 44.7 |
| Employment | 45.9 | 47.1 |
| Supplier Deliveries | 50.1 | 49.1 |
| Inventories | 45.3 | 46.2 |
| New Export Orders | 51.6 | 45.2 |
| Imports | 53 | 50.1 |
The eight manufacturing industries reporting growth in February, in order, are: apparel, leather and allied products; nonmetallic mineral products; primary metals; plastics and rubber products; fabricated metal products; chemical products; miscellaneous manufacturing; and transportation equipment.
The seven industries reporting contraction in February, in the following order, are: furniture and related products; machinery; wood products; computer and electronic products; food, beverage and tobacco products; paper products; and electrical equipment, appliances and components.