Posted March 2, 2020

Manufacturing expanded in February

Manufacturing expanded in February, as the PMI registered 50.1 percent, a 0.8-percentage point decrease from the January reading of 50.9 percent.

“The PMI expanded in February, but at a slower rate. Four of the big six industries expanded, at similar rates compared to January. Four of the PMI’s 10 subindexes recorded expansion, down from six the previous month,” said Timothy R. Fiore, chair of the Institute for Supply Management Manufacturing Business Survey Committee.

A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting.

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