US February ISM Non-Manufacturing PMI 53.5... "Exceeds Expectations"

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Summary

The U.S. Institute for Supply Management announced that the February Non-Manufacturing PMI index was 53.5, exceeding expectations.
This figure surpasses both the previous month's reading and expectations, indicating economic expansion.
They emphasized that a PMI above 50 indicates economic expansion, while below 50 signals economic contraction.

The U.S. February ISM Non-Manufacturing Purchasing Managers' Index (PMI) exceeded expectations.

According to the Non-Manufacturing PMI report released by the Institute for Supply Management (ISM) on the 5th (local time), the U.S. February Non-Manufacturing PMI was 53.5, surpassing both the expected figure (52.5) and the previous month's reading (52.8).

ISM conducts a monthly survey of 400 companies across 20 industry sectors to evaluate manufacturing business conditions and calculate the PMI index. If this index is above 50, it means more opinions favor economic expansion, while a reading below 50 indicates more opinions anticipate economic contraction.