Manufacturing activity in the USA slowed down, as data for new orders and employment weakened, according to Markit’s PMI release Thursday morning.
The US manufacturing purchasing managers’ index declined to a preliminary reading of 55.2 in February from a final January reading of 55.8. January’s reading was a nine-month peak.
Readings above 50 for the index, which provides a snapshot of the manufacturing sector, indicate expansion. The higher the reading, the faster the rate of expansion.