Posted March 1, 2021

Manufacturing strengthened in February

Manufacturing grew in February, as ISM's Manufacturing PMI registered 60.8 percent, 2.1 percentage points higher than the January reading of 58.7 percent.

This equals the highest reading since February 2018, when the PMI reached 60.8 percent. Prior to that, the PMI registered 61.4 percent in May 2004.

“The Manufacturing PMI continued to indicate strong sector expansion and U.S. economic growth in February. Four of the five subindexes that directly factor into the PMI were in growth territory and at a higher level compared to January," said Timothy R. Fiore, chair of the Institute for Supply Management Manufacturing Business Survey Committee.

The February figure indicates expansion in the overall economy for the ninth month in a row after contraction in March, April, and May.

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