IHS Marquit, a financial information services company, said the US Manufacturing Purchasing Managers (PMI) Index. Dropped to 58.6 in February from 59.2 in January.
However, the PMI remains above 50, indicating an expansion in US manufacturing.
Although the PMI index fell in February. But still hitting the 2nd highest level since April 2010 This was driven by a rebound in new orders and hiring. While the confidence of the business sector rose to a three-month high on expectations that the COVID-19 vaccination More broadly, it will help the economy recover.
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