According to the Institute for Supply Management’s PMI Index, the manufacturing sector grew at its slowest rate in over two years in February. The PMI fell 2.4 points to 54.2 from 56.6, led by Production (-5.7), Employment (-3.2), New Orders (-2.7) and Supplier Deliveries (-1.3). Positive signs included a slight acceleration in New Export Orders (+1.0) and decreasing Prices for raw materials from 49.6 to 49.4 (a reading below 50 indicates contraction). See the full report here.
