- The US Markit Manufacturing PMI rose more than expected in February based on the flash estimate.
- The index reaches the highest level in two months.
Economic activity in the US manufacturing sector continued to expand in February, at a faster pace than in January, with the IHS Markit Manufacturing PMI rising to 57.5 (preliminary) from 55.5. This reading was above the market expectation of 56.0.
“The pace of economic growth accelerated sharply in February as virus containment measures were eased, tightened to combat the Omicron wave. Demand was reported to have revived and supply constraints, both in terms of component availability and staffing shortages, have eased,” said Chris Williamson, chief business economist at IHS Markit.
Source: Fx Street
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