U.S. Manufacturing PMI rose to 54.3

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Friday, Feb 20 2015

February data indicated a sustained improvement in U.S. manufacturing business conditions. At 54.3, up from 53.9 in January, U.S. Manufacturing PMI has now registered above the 50.0 no-change value for almost five and-a-half years. Analysts were predicting decline to 53.7. The latest reading was the highest since last November, but still weaker than the average for 2014 as a whole (55.9). Slower rates of new business and employment growth were the main factors weighing on the headline index in February.

Manufacturing companies indicated a robust and accelerated expansion of production volumes during February. The latest increase in output was the most marked since October 2014, with survey respondents noting that improving economic conditions and rising client spending continued to boost production schedules.

After the data USD gained few points against its major rivals. Euro is slightly below 1.13 handle, Sterling is around 1.5350 area, while Aussie is few points above 0.7810 level.

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