Markit's US manufacturing PMI eases in February

Growth in the US manufacturing sector eased back a touch in February, according to data released on Thursday.

IHS Markit’s final manufacturing purchasing managers’ index slipped to 55.3 from January’s 34-month high of 55.5.

Chris Williamson, chief business economist at IHS Markit, said: "US factories are enjoying one of the best growth spells seen since 2014, boding well for the sector to make a solid contribution to GDP in the first quarter. The survey’s output index readings for the first two months of 2018 are indicative of the sector growing at an annualised rate of just under 3%.

"The most encouraging news was another surge in new order inflows, which helped boost optimism about the year ahead and drive further widespread job gains. Manufacturers are clearly in expansion mode, enjoying robust demand from home alongside rising export orders."