US manufacturing PMI shrinks in February

Manufacturing PMI down 1.2 points, services by 0.4

By Gokhan Ergocun

ISTANBUL (AA) - The US manufacturing Purchasing Managers' Index (PMI) fell below expectations in February, data provider S&P Global announced on Friday.

The manufacturing PMI fell to 51.2 in February, down 1.2 points compared to the previous month.

Despite falling to its lowest level in seven months during this period, the index, signaling expansion in the sector, was expected to reach 52.4, as it did in January.

The US services sector PMI also declined by 0.4 points on a monthly basis in February, falling to 52.3, from 52.7 in January.

Although it reached its lowest level in 10 months during this period, the index was expected to reach 53.

PMI data above 50 indicates expansion in the sector, while data below 50 indicates contraction.

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