Purchasing Managers Index Inched up to 58.6% in February

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Purchasing Managers Index Inched up to 58.6% in February

Tempe, AZ, March 1, 2022-The February Manufacturing Purchasing Managers Index (PMI) registered 58.6%, an increase of one percentage point from the January reading of 57.6%, say the nation's supply executives in the latest Manufacturing ISM Report On Business. 

This figure indicates expansion in the overall economy for the 21st month in a row after a contraction in April and May 2020. 

The New Orders Index registered 61.7%, up 3.8 percentage points compared to the January reading of 57.9%. 

The Production Index registered 58.5%, an increase of 0.7 percentage point compared to the January reading of 57.8%. 

The Prices Index registered 75.6%, down 0.5 percentage point compared to the January figure of 76.1%. 

The Backlog of Orders Index registered 65%, 8.6 percentage points higher than the January reading of 56.4%.

The Employment Index registered 52.9%, 1.6 percentage points lower than the January reading of 54.5%.

The Supplier Deliveries Index registered 66.1%, an increase of 1.5 percentage points compared to the January figure of 64.6%. 

The Inventories Index registered 53.6%, 0.4 percentage point higher than the January reading of 53.2%.

The New Export Orders Index registered 57.1%, up 3.4 percentage points compared to the January reading of 53.7%. 

The Imports Index registered 55.4%, a 0.3-percentage point increase from the January reading of 55.1%.

The 16 manufacturing industries reporting growth in February-in the following order-are apparel, leather & allied products; textile mills; paper products; transportation equipment; machinery; miscellaneous manufacturing; primary metals; electrical equipment, appliances & components; computer & electronic products; furniture & related products; plastics & rubber products; fabricated metal products; food, beverage & tobacco products; nonmetallic mineral products; chemical products; and petroleum & coal products. The only industry reporting a decrease in February compared to January is wood products.