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The ISM Manufacturing Purchasing Managers' Index (PMI) is a leading indicator of economic activity in the U.S. manufacturing sector. Based on a survey of purchasing executives, a reading above 50 indicates expansion, while a reading below 50 signals contraction. It is highly regarded for its ability to provide early signals of changes in the broader economy and business cycle.
The index is derived from a monthly survey of approximately 300 purchasing managers across 18 industries. It is a composite index based on five sub-indicators: new orders, production, employment, supplier deliveries, and inventories.
No sustained trend detected for ISM Manufacturing PMI (Feb). Forecast accuracy is 80% over 12 readings. The release is expected near the consensus forecast of 51.3.