U.S. Manufacturing PMI Hits Seven-Month Low in February

The U.S. manufacturing sector experienced a downturn in February, with the S&P Global Manufacturing PMI preliminary reading falling to 51.2, marking a seven-month low. According to Jin10, the service sector also showed signs of slowing, with the S&P Global Services PMI preliminary reading at 52.3, the lowest in ten months. The overall economic activity, as measured by the S&P Global Composite PMI, recorded a preliminary value of 52.3, also a ten-month low, indicating a broader slowdown in economic growth.