Staffing Industry Analysts (03/02/21)
IHS Markit reported a continued upturn in the US manufacturing sector in February with the rate of production growth the fastest in six years. Although its February purchasing managers’ index fell to a reading of 58.6 in February from 59.2 in January, it was the second-fastest since April 2010. However, IHS also noted a substantial increase in input costs.
The organization also reported employment in manufacturing grew at its steepest rate since September 2014 as business confidence also improved.
“Another month of strong production growth suggests that the US manufacturing sector is close to fully recovering the output lost to the pandemic last year, and a renewed surge in optimism suggests the recovery has much further to run,” said Chris Williamson, chief business economist at IHS Markit.
Read the full article here.