- Markit Manufacturing PMI in US fell modestly in February.
- US Dollar Index stays deep in the negative territory near 90.30.
The IHS Markit’s Manufacturing PMI declined to 58.5 in February’s preliminary reading from 59.2 in January. This reading came in line with analysts’ estimate and showed that the business activity in the manufacturing sector continues to expand at a robust pace.
Key takeaways
“The slower manufacturing growth was often blamed on extreme weather and existing widespread supply shortages.”
“The rate of input cost inflation was the sharpest since April 2011, while firms raised their selling prices at the fastest pace since July 2008 in an effort to partially pass on greater input prices.”
“The degree of optimism was the highest since November 2020 amid hopes that client demand will remain strong and COVID-19 restrictions will come to an end during 2021.”
Market reaction
The US Dollar Index largely ignored this report and was last seen losing 0.32% on the day at 90.30.
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