US: Markit Manufacturing PMI edges lower to 58.6 (final) in February as expected

  • Markit Manufacturing PMI in US fell in February but remained well above 50.
  • US Dollar Index stays relatively calm around 91.00 after the data.

The IHS Markit’s Manufacturing PMI for the US declined to 58.6 (final) in February from 59.2 in January to show an ongoing expansion in the manufacturing sector’s economic activity at a slightly softer pace. This reading came in slightly higher than the flash estimate of 58.5 and matched analysts’ estimate.

Commenting on the data, “another month of strong production growth suggests that the US manufacturing sector is close to fully recovering the output lost to the pandemic last year,” noted Chris Williamson, Chief Business Economist at IHS Markit. “A renewed surge in optimism suggests the recovery has much further to run.”

Market reaction 

This report was largely ignored by the market participants and the US Dollar Index was last seen posting small daily gains at 91.00.

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