The textile and apparel sector helped boost U.S. manufacturing growth in February, new data shows, with the economy notching a ninth consecutive month of growth.

According to the latest Institute for Supply Management (ISM) ‘Report on Business,’ the February Manufacturing PMI (purchasing manager’s index) registered 60.8 percent – an increase of 2.1 percentage points from the January reading of 58.7 percent.

 

This figure indicates expansion in the overall economy for the ninth month in a row after contraction in March, April and May. The New Orders Index registered 64.8 percent, up 3.7 percentage points from January, while the Production Index registered 63.2 percent, an increase of 2.5 percentage points.

 

The New Export Orders Index registered 57.2 percent, an increase of 2.3 percentage points on last month, while the Imports Index registered 56.1 percent, a drop of 0.7 percentage points. Textile mills, and apparel, leather and allied products were among the 18 manufacturing industries to report growth in February.

 

Labor-market difficulties at panelists’ companies and their suppliers continued to restrict manufacturing-economy expansion and will remain the primary headwind to production growth until employment levels and factory operations can return to normal across the entire supply chain."

 

Source: just-style.com