The ISM Manufacturing PMI for the US rose to 58.6 in February from 57.6 in previous month and analysts' expectations of 58. Today's data showed that the overall economy expanded for the 21st consecutive month. New orders rose to 61.7 compared to market expectations of 57.9. Production continued to increase at a solid pace as COVID-19 infections subsided, though the employment component dropped to 52.9 from 54.5, contributing to keeping supply chains snarled and prices for inputs high.

Recent ISM's Manufacturing survey showed that the omicron variant had a minor impact on the US economy. Source: Bloomberg via ZeroHedge
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Open account Try demo Download mobile app Download mobile appPrices paid remain flat at a high level of 75.6 and customer inventories continue to move lower, while order backlogs are rising again. This suggests that inflation pressures are likely to put pressure in the future. It is also worth remembering that the survey data were gathered before Putin’s aggression in Ukraine, therefore they do not mirror the current macroeconomic situation.
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