Purchasing Managers' Index rose in February to its highest level since February 2018
The US industry has surprisingly gained momentum. The purchasing manager index rose in February by 2.1 to 60.8 points, the highest level since February 2018, according to a company survey by the Institute for Supply Management (ISM). Experts had largely expected stagnation. With a value of well over 50 points, the index signals strong growth.
“The mood barometer in the industry is rising unexpectedly strongly and is at a high level, so that the friendly outlook in the industry remains,” explained Helaba economist Ralf Umlauf. The American central bank (Fed) will nonetheless stick to its expansionary monetary policy, because Corona mutations “carry the risk of a prolongation of the crisis”. This could particularly burden the service providers.
