February ISM Manufacturing Index Increased to 60.8%

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February ISM Manufacturing Index Increased to 60.8%

Tempe, AZ, April 1, 2021–The February Manufacturing PMI registered 60.8%, an increase of 2.1 percentage points from the seasonally adjusted January reading of 58.7%, according to the latest Manufacturing ISM Report On Business. This figure indicates expansion in the overall economy for the ninth month in a row. 

The New Orders Index registered 64.8%, up 3.7 percentage points compared to the seasonally adjusted January reading of 61.1%. 

The Production Index registered 63.2%, an increase of 2.5 percentage points compared to the seasonally adjusted January reading of 60.7%. 

The Backlog of Orders Index registered 64%, 4.3 percentage points above the seasonally adjusted January reading of 59.7%. 

The Employment Index registered 54.4%, 1.8 percentage points higher from the seasonally adjusted January reading of 52.6%. 

The Supplier Deliveries Index registered 72%, up 3.8 percentage points from the January figure of 68.2%. 

The Inventories Index registered 49.7%, 1.1 percentage points lower than the seasonally adjusted January reading of 50.8%. 

The Prices Index registered 86%, up 3.9 percentage points compared to January reading of 82.1%. 

The New Export Orders Index registered 57.2%, an increase of 2.3 percentage points compared to the seasonally adjusted January reading of 54.9%. 

The Imports Index registered 56.1%, a 0.7-percentage point decrease from the January reading of 56.8%.

Of the six biggest manufacturing industries, five-chemical products; fabricated metal products; transportation equipment; computer and electronic products; and food, beverage and tobacco products-registered strong growth in February. Petroleum and coal products moderately contracted.

Of the 18 manufacturing industries, 16 reported growth in February, in the following order: textile mills; electrical equipment, appliances and components; primary metals; paper products; chemical products; machinery; fabricated metal products; transportation equipment; wood products; plastics and rubber products; computer and electronic products; apparel, leather and allied products; food, beverage and tobacco products; miscellaneous manufacturing; furniture and related products; and nonmetallic mineral products. The two industries reporting contraction in February are: printing and related support activities; and petroleum and coal products.