- US Markit Manufacturing PMI rose more than expected in Feburary according to the flash estimate.
- Index hits highest level in two months.
The economic activity in the US manufacturing sector continued to expand in February, at a faster pace than it did in January, with IHS Markit's Manufacturing PMI rising to 57.5 (preliminary) from 55.5. This reading came in above market’s expectation of 56.0.
“The pace of economic growth accelerated sharply in February as virus containment measures, tightened to fight the Omicron wave, were scaled back. Demand was reported to have revived and supply constraints, both in terms of component availability and staff shortages, moderated”, commented Chris Williamson, Chief Business Economist at IHS Markit.