US S&P Global Manufacturing PMI for February improves

The US S&P Global Composite PMI fell from 52 in January to 51.4 in February’s flash estimate, indicating that the private sector’s business activity in the US is still growing, but more slowly than it was in January.

During the same time period, the S&P Global Manufacturing PMI increased to 51.5 from 50.7, while the S&P Global Services PMI slightly decreased to 51.3 from 52.5.


According to the survey, cost pressures for suppliers and manufacturers decreased once more in February, as input costs increased at their slowest rate since October 2020.

According to Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, “the early PMI data for February indicate that the US economy continued to expand midway through the first quarter, pointing to annualised GDP growth in the region of 2%,” in response to the survey’s results.

“Although service sector growth cooled slightly, manufacturing staged a welcome return to growth, with factory output growing at the fastest rate for ten months,” Williamson stated.

The US dollar continues to hold its value relative to other currencies in the wake of the PMI report. As of this writing, the USD Index remains flat for the day around 104.02 points.