PMI continues strong growth trend in February

The Institute for Supply Management’s purchasing manufacturers' index (PMI) rose to 57.7% in February, which marks the sixth straight month of growth.

Chris Vavra, CFE Media

New orders and production levels continue to drive the manufacturing industry's growth as they reached new highs in February. As a result, the Institute for Supply Management's purchasing manufacturers' index (PMI) jumped another 1.7 percentage points in February to 57.7%.

The new orders index had a huge growth of 4.7 percentage points to 65.1%, the third straight month that index was above 60%. The production index jumped 1.5 percentage points to 62.9%. The only down note was the employment index dropping 1.9 percentage points to 54.2%. Overall, though, the manufacturing industry looks very busy and strong with 17 of the 18 industries reporting growth in February. 

"Comments from the panel largely indicate strong sales and demand, and reflect a positive view of business conditions with a watchful eye on commodities and the potential for inflation," said Bradley Holcomb, chairman of the Institute for Supply Management's manufacturing business survey committee. 

Among the comments from committee members were:

While the PMI has been above the growth level of 50% for 10 of the last 11 months, the February reading of 57.7% marked the sixth consecutive month of growth, and the fifth straight month growth rate exceeded 1.0 percentage points. 

Chris Vavra, production editor, CFE Media, cvavra(at)



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