Manufacturing PMI Expands in February

Sentiment among purchasing managers surveyed by the Institute for Supply Management remains strongly optimistic, showing growth last month following a small dip in January.

February’s Manufacturing PMI edged up to a reading of 58.6% versus 57.6% the month prior. The index reading above 50% indicates growth in the manufacturing sector, thus February’s measure marks the 21st consecutive month of expansion since the COVID-related contraction in April and May 2020.

Manufacturing

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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