MISS: US PMI FALLS TO 54.3
The headline index fell to 54.3 from the flash estimate of 55.2 published by Markit earlier this month.
Anyt reading above 50 indicates expansion, though, and 54.3 represents a moderate pace of growth.
However, the new export orders sub-index, the main driver behind the decline, indicated contraction in February, falling to 48.5 from last month's 51.5 reading. So, it looks like exports took a hit.
The sub-index for all new orders fell to 55.4 from 57.4 last month, and the employment sub-index fell to 53.5 from 55.6, indicating a slowing but still moderate pace of expansion.
Below is a full breakdown of the sub-indices:
Markit Economics
Click here for the full release >
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ORIGINAL: Heads up: U.S. manufacturing data kicks off in just a few minutes – at 8:58 AM ET – with the release of Markit's final U.S. PMI reading, which is expected to match the flash estimate of 55.2 released earlier this month.
Last month, the index clocked in at 55.8, and economists predicted the flash estimate would only sink to 55.5.
However, 55.2 is still well above 50, indicating moderate expansion in U.S. manufacturing.
We will have the full release LIVE at 8:58 AM ET. Click here to refresh for the latest >