US composite PMI rises to 50.2 in February, highest level in 8 months, preview says – 2/21/2023

The US composite PMI rose to 50.2 in February, the highest in 8 months, the forecast said

02/21/2023 | 12:06 p.m

The US Composite Purchasing Managers’ Index (PMI), which covers the manufacturing and services sectors, rose to 50.2 in February from 46.8 in January, hitting an eight-month high and breaching the 50 barrier. Data released this Tuesday, 21 by S&P Global.

Only the US services PMI rose to 50.5 from 46.8 in the same period, hitting its highest level in eight months. The result exceeded the expectations of analysts consulted by Wall Street JournalIt is projected to advance to 47.

The US manufacturing PMI rose to 47.8 in February from 46.9 in January, hitting the highest level in four months and beating the consensus. WSJ, 47.6. However, a reading below 50 indicates that production is in contraction.

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