MANUFACTURING SECTOR CONTINUES GROWTH IN FEBRUARY

Key Points:

  • The Manufacturing Purchasing Managers Index (PMI) captures business conditions in the manufacturing sector.
  • Manufacturing PMI increased to 60.8 in February from 58.7 in January.
  • The 2.1 gain exceeded the consensus among economists of a 0.86 increase.
  • This figure is the highest since September 2018 and indicates expansion in the overall economy for the ninth month in a row.
  • Of the 18 manufacturing industries, 16 reported growth in February.
  • Printing & Related Support Activities and Petroleum & Coal Products were the only industries to contract in February.
  • The Right Facts will continue to monitor the manufacturing sector.
Source