(IHS Markit) The US Manufacturing Purchasing Managers’ Index was recorded at 57.3 in February, accelerating from 55.5 in January.
The increase in manufacturing activity reflected a sharper rise in new orders on growing demand. The new orders rose at the quickest since October, while export orders expanded the fastest in five months.
The supply bottlenecks eased in February, with the delivery delays weakening to the lowest since May. Lead times remained extended due to transportation and logistics delays, although delivery delays were the weakest since May.
The rate of cost inflation was the weakest in nine months, although it remained at historically high levels. Output charges rose to a three-month high.
Stocks of finished goods weakened at a quicker rate, with firms struggling to replenish inventories.
Following the increase in activity and easing supply chain bottlenecks in February, manufacturing output expectations for the next twelve months were the highest since November 2020.
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