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Manufacturing and Service PMI in the U.S. Increased in February

IHS Markit reported its Purchasing Managers’ Index (PMI) for the U.S. manufacturing and primary services sectors, which rose to 56.0 in February from 51.1 in January.

The PMI remains above 50, indicating that the US economy is continuing to expand. The key factors here were the easing of bottlenecks in the supply chain and the recovery in demand. In addition, new orders continue to be good.

The preliminary manufacturing PMI was at a two-month high of 57.5, up from 55.5 in January.

The primary services PMI hit a two-month high of 56.7, up from 51.2 in January.

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