PiCK

US flash February manufacturing PMI at 51.2, slightly below market expectations

Uk Jin

Summary

The US flash February manufacturing PMI of 51.2 was reported to have come in slightly below the Wall Street estimate of 52.4.
It said that a PMI above 50 indicates economic expansion, while below 50 indicates contraction.
It added that the flash January services PMI of 52.3 also fell short of the market estimate of 53.0.

The US flash February manufacturing purchasing managers' index (PMI) came in below market expectations.

The flash February manufacturing PMI released by S&P Global on the 20th (local time) stood at 51.2, slightly under Wall Street forecasts (52.4).

The PMI uses 50 as the baseline to gauge whether business activity is expanding or contracting. A reading above 50 indicates expansion, while below 50 signals contraction.

Meanwhile, the flash January services PMI released the same day came in at 52.3, also below market expectations (53.0).