The Institute of Supply Management (ISM) announced on Monday (1st) that the Purchasing Managers Index (PMI) for the manufacturing industry in February was reported at 60.8, reaching a 3-year high. However, factories continue to face high cost pressures on raw materials and inputs, and prices The index climbed to its highest level since 2008.
US ISM manufacturing PMI detailed index in February:
- New orders index reported 64.8, the previous value was 61.1
- The production index reported 63.2, the previous value was 60.7
- Employment index reported 54.4, the previous value was 52.6
- Supplier delivery index reported 72.0, the previous value was 68.2
- Inventory index reported 49.7, the previous value was 50.8
- Client inventory index reported 32.5, the previous value was 33.1
- The price index reported 86.0, the previous value was 82.1
- The unfinished order index reported 64.0, the previous value was 59.7
- Export order index reported 57.2, the previous value was 54.9
- The raw material import index reported 56.1, the previous value was 56.8
According to the ISM report, the manufacturing PMI in February rose to 60.8 from 58.7 last month, writing the highest level since February 2018.
Among them, the new order index in February rose to 64.8 from 61.1 in the previous month, and both the production and employment index increased at a faster rate. To meet demand, the factory continued to increase the number of employees, pushing the employment index to the highest since March 2019. Level, reported 54.4.
Nevertheless, the one-year-long new crown epidemic still brings high cost pressures to manufacturers. The price index jumped from 82.1 last month to 86.0, the highest level since July 2008.
The supplier’s delivery index, which measures delivery time, rose to 72.0 in February, the second highest since 1979; the uncompleted order index increased to 64.0, the highest since April 2004.
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