US ISM manufacturing PMI beats estimates, but stays below 50.00

The US Institute of Supply Management’s (ISM) PMI manufacturing index for February beat estimated to print at 49.5 compared to January figure of 48.2.

The details also revealed the pace of contraction in the jobs growth eased in February.

Sub indices

Employment index 48.5 Feb vs 45.9 Jan

Prices paid index 38.5 Feb vs 33.5 Jan (nsa)

New orders index 51.5 Feb vs 51.5 Jan

Production index 52.8 Feb vs 50.2 Jan

Supplier delivery index 49.7 Feb vs 50.0 Jan

Order backlog index 48.5 Feb vs 43.0 Jan (nsa)