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US: ISM Manufacturing PMI falls to 47.8 in February, disappointing expectations for rise to 49.5

He ISM Manufacturing PMI (Institute for Supply Management) of the United States has fallen 1.3 points in February, sliding to 47.8 from 49.1 in January, its lowest level in two months. The result has disappointed market expectations, as an increase to 49.5 was expected. The indicator remains in contraction territory since October 2022.

He employment component has also fallen, standing at 45.9 from 47.1, its lowest level in three months.

The new orders index has fallen to 49.2 from 52.5, while the prices paid component has stood at 52.5 compared to the previous 52.9, without reaching the expected 53.

USD reaction

The Dollar Index (DXY) soared to ten-day highs of 104.29 just before the data, boosted by strong manufacturing PMI from S&P Global. However, the weak ISM data has pushed the greenback back, which is now trading above 104.09, losing a slight 0.03% daily.

Source: Fx Street

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