For the 26th consecutive month the manufacturing sector has grown in the U.S.
However in February the growth slowed, according to The Institute for Supply Management.
The ISM’s manufacturing PMI index shows a dip of 0.6% from January to 52.9%, slowing to its lowest rate in 13 months. The number came in shy of expectations of 53.1 by Reuters analysts, and was the lowest in January 2014.
“ISM’s February report is fairly consistent with recent government data showing manufacturing output increasing at a moderate pace,” noted Don Norman, director of economic studies for the MAPI Foundation. “The Federal Reserve Board’s industrial production index for manufacturing increased by just 0.2% in January. On a year-over-year basis, however, manufacturing output was up 5.6%. The U.S. Census Bureau reported that new orders for manufactured goods (excluding defense) increased by 3% in January while shipments of durable goods were down by 1.5% and unfilled orders decreased by 0.9%."
More analysis of the current manufacturing statistics on IndustryWeek.