U.S. manufacturing lost some momentum in February as overseas demand declined, but output grew at its fastest pace in nearly a year, a survey showed on Friday.
Financial data firm Markit said its U.S. Manufacturing Purchasing Managers Index fell to 54.3 last month, nearly a full point below a preliminary estimate of 55.2. It stood at 55.8 in January.
A reading above 50 indicates expansion.
The pace of growth in new orders slowed, with the index slipping to 55.4 from 57.4 in January. Demand from abroad fell for the first time in four months.
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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