The latest report by S&P Global unveiled the seasonally adjusted
S&P Global final U.S. Manufacturing Purchasing Managers’ Index (PMI) came
in at 47.3 in February, up from 46.9 in January but down from the earlier
released “flash” estimate of 47.8. The February reading was the highest in
three months, but still indicated a solid deterioration in the health of the
U.S. factory sector.
Economists had expected the index to remain unrevised at 47.8.
According to the report, the February drop in the headline figure was
due to further contractions in output and new orders, although rates of growth
slowed in both instances. On the price front, the rate of charge inflation
accelerated again to a marked pace, while input costs increased at a softer
rate.