HomeLive CommentsISM manufacturing dropped to 50.1, global supply chains impacting most sectors

ISM manufacturing dropped to 50.1, global supply chains impacting most sectors

US ISM Manufacturing index dropped to 50.1 in February, down from 50.9, missed expectation of 50.5. Of the 18 manufacturing industries, 14 reported growth. Looking at some details, new orders dropped -2.2 to 49.8, back in contraction. Production dropped sharply by -4.0 to 50.3. Employment rose 0.3 to 46.9, staying in contraction. Prices dropped sharply by -7.4 to 45.9.

Timothy Fiore Chair of ISM Manufacturing Business Survey Committee said: “Global supply chains are impacting most, if not all, of the manufacturing industry sector… Overall, sentiment this month is marginally positive regarding near-term growth”. ISM reading corresponds to 2.1% increase in real GDP on annualized basis.

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