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Manufacturing activity picks up in February
Wikimedia Commons Manufacturing activity in the US picked up a bit in February, according to Markit Economics.
The latest manufacturing PMI from Markit came in at 55.1, up from 53.9 last month.
Expectations were for the reading to come in at 54.3, unchanged from the flash reading released earlier this month.
Monday's reading was the best for Markit's PMI in four months.
In a release, Markit said, "Growth in the U.S. manufacturing sector gathered momentum in February, with output and new orders both rising at sharper rates than seen at the start of the year. Input costs decreased marginally for the second month running, but firms continued to raise their output prices. Meanwhile, delays in the delivery of items contributed to an accumulation of backlogs of work and a record increase in finished goods stocks."
More to come ...
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