The February PMI, the index used by the ISM to measure growth, came in a 57.7 (a reading of 50 or higher indicates growth), which was 1.7 percent ahead of January, marking the highest monthly PMI reading going back to August 2014's 57.9.
MarketWatch reports the index exceeded its economists' consensus forecast, which called for a reading of 56.5.
Of the 18 manufacturing industries, 17 reported growth in February in the following order, including textile mills, machinery and transportation equipment. The employment index decreased 1.9% to 56.1% and the prices index remained high (68%), but that was still 1% below January's reading. The key orders index rose a hefty 4.7 points to 65.1; if sustained at that level, the other lagging components should rise far enough over the next couple of months to lift the headline index to about 60, last seen in Feb 11.
Holcomb explained this could be a turning point, as well as a reflection of strong confidence in manufacturing as it relates to a continuation of new orders coming online. But the number still suggested expansion, although at a slower pace.
The PMI is an indicator of the economic health of the manufacturing sector.
If You're Under 30, Your Risk For Colon Cancer Just Doubled
The data was taken from 500,000 cases of colorectal cancer over 40 years and does not indicate why the rates are rising. In addition, the authors suggest that the age to initiate screening people at average risk may need to be reconsidered.
Airtel matches Jio with free roaming calls and data
This pack will be activated the moment the customer's spends reach the limit for the one-day pack for that particular country. Currently, the company is offering 6GB data per month for Rs 349, along with unlimited voice calls.
Get Out Scares The LEGO Batman Movie Off Its Box Office Throne
Thus " Get Out " got "Certified Fresh" mark from the Rotten Tomatoes site and set a new precedent by garnered 100% rating. I can't help but think the reaction of the audience I saw Get Out with was both informed and galvanized by all of that.
However, the industrial production index, a measurement of the output in several industries including manufacturing, has shown a less rosy picture.
"Firmer demand, domestic and foreign, is setting the stage for meaningful improvement in the manufacturing sector, but much depends on the evolution of US fiscal, regulatory, and trade policy in the months ahead", wrote Moody, of Regions Financial.
However, the employment index slipped almost two points to 54.2, although that still indicates job growth in the sector with 10 of the 18 industries surveyed saying hiring rose in the month.
Photo at top: A machine at the training facility of the Technology & Manufacturing Association in Schaumburg.