(IHS Markit) US Composite Output Index was at 56.0 in February, the highest in two months and up from 51.1 in January as the economy rebounded from the Omicron impacts.
The Services Business Activity Index also hit a two-month high of 56.7, an increase from 51.2 in January.
The manufacturing PMI was at 57.5, a two-month high and an improvement from 55.5 in January. The Manufacturing Output Index rose from 50.5 in January to a two-month high of 52.5 in February.
Firms linked the improved output to growth in new business, workers returning from sick leaves, greater availability of inputs, and increase in traveling.
Input costs remained a headwind, with the input prices quickening after hitting a ten-month low in January. Averages output charges rose at a survey recorded pace.
Employment increased and was the strongest since May. Service firms’ jobs quickened to the highest in nine months but were moderate among goods producers.
Growth in new inputs improved to a five-month high, with suppliers’ delivery times increasing but at the slowest pace since May.
SPY is down -0.035%, DXY is down -0.09%.
