Business growth in the United States accelerated in February as the outbreak of Covid-19 infections subsided, but higher input prices continued to weigh amid supply constraints.
IHS Markit said on Tuesday its preliminary Composite Purchasing Managers’ Index (PMI) rose to a reading of 56.0 this month from 51.1 in January, attributing the gain to “return of employees from sick leave, increased travel and greater availability of raw materials”.
A reading above 50 indicates growth.
The composite sub-index for orders advanced to 57.5 from 55.2 in January as customers made additional purchases to avoid future price increases.
The pick-up in activity this month was broad-based, with the preliminary services PMI rising to a reading of 56.7 from 51.2 in January and a Reuters poll expectation of 53.0.
Activity also picked up in the industrial sector, with strong growth in orders and rising employment. The preliminary PMI for the sector was 57.5 in February, from 55.5 in the previous month and an expectation of 56.0.
Source: CNN Brasil
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