February manufacturing activity eases slightly: Markit

According to a survey U.S. manufacturing lost some momentum in February as overseas demand declined. According to financial data firm Markit, 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. Chris Williamson, chief economist at Markit said that the slower order book growth largely reflects a renewed downturn in export orders, which could be in part attributable to a stronger than normal effect from the Chinese New Year holidays.

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February manufacturing activity eases slightly: Markit