UPDATE: Markit’s preliminary PMI estimate for February is out.
The index fell to 55.2 from last month’s 55.8 reading.
Economists predicted a smaller drop to 55.5.
Any reading over 50 indicates expansion, so today’s release indicates a slowing pace of expansion.
One sub-component, however – new export orders – dipped into contractionary territory.
Below is a breakdown of the various sub-components of the index:
ORIGINAL: Minutes away from the release of Markit’s flash U.S. PMI index reading for February, due out at 8:58 AM ET.
Economists expect the index to moderate to 55.5 from last month’s 55.8 reading.
We will have the full release LIVE at 8:58 AM ET. Click here to refresh for updates >