U.S. Manufacturing PMI Declines in January – IHS Markit

The seasonally adjusted United States Manufacturing Purchasing Managers’ Index (PMI) registered a final reading of 58.6 in February, down from 59.2 in January, data by IHS Markit showed on Monday.

This marked the second strongest performance by the U.S. manufacturing sector in almost 11 years.

The reading indicated an upturn in the health of the American manufacturing sector, despite the rate of overall growth easing, but it was the second-fastest since April 2010, supported by sharp increases in output and new orders.

As the U.S. economy is still recovering from the impact of the Coronavirus pandemic, the manufacturing sector continued to see unprecedented supply chain disruptions, with supplier shortages and transportation delays, which led to a rise in input costs.