Manufacturing PMI Signals “US Economy Has Entered A Slower Growth Phase”; Employment, New Orders Tumble
by Tyler Durden
ZeroHedge.com
02/20/2015
Having hovered at its lowest level in 12 months in January, February’s Markit US Manufacturing PMI printed 54.3 (modestly above expectations of 53.6). Under the covers it is a very different story with New orders dropping to their lowest level since Jan 2014 and employment falling. While the headline will likely steal the day (though initial equity reactions are negative), as Markit concludes, “the rate of economic growth remains well down on last year.”
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