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USA: Manufacturing activity strengthened in February

Manufacturing activity in the United States intensified in February as COVID-19 infections receded after a jump in previous months due to the micron mutation.

In particular, the Institute for Supply Management (ISM) announced that the index for the activity of the country’s factories increased to 58.6 points last month, from 57.6 points in January, which was the lowest level since November 2020.

Measurements above 50 indicate expansion of activity. Analysts’ average estimates in a Reuters poll put the index at 58.0 points.

A different IHS Markit survey showed that the PMI manufacturing index strengthened to 57.3 points in February from 55.5 points in January, marginally losing its initial estimate of 57.5 points.

“The US manufacturing industry recovered in February after the micron wave that nearly led to a production freeze in January,” said Chris Williamson, chief economist at IHS Markit.

Source: Capital

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