GDP Growing at 2.1%, Purchasing Execs Say
The February Purchasing Managers Index registered 50.1%, down 0.8 percentage point from the January reading of 50.9%, according to Timothy R. Fiore, chair of the Institute for Supply Management Manufacturing Business Survey Committee.
The New Orders Index registered 49.8%, a decrease of 2.2 percentage points from the January reading of 52%. The Production Index registered 50.3%, down 4 percentage points compared to the January reading of 54.3%.
The Backlog of Orders Index registered 50.3
%, an increase of 4.6 percentage points compared to the January reading of 45.7%. The Employment Index registered 46.9%, an increase of 0.3 percentage point from the January reading of 46.6%. The Supplier Deliveries Index registered 57.3%, up 4.4 percentage points from the January reading of 52.9 %.
The Inventories Index registered 46.5%, 2.3 percentage points lower than the January reading of 48.8%. The Prices Index registered 45.9%, down 7.4 percentage points as compared to the January reading of 53.3%. The New Export Orders Index registered 51.2%, a decrease of 2.1 percentage points as compared to the January reading of 53.3%. The Imports Index registered 42.6%, an 8.7-percentage point decrease from the January reading of 51.3%.