Monday, March 4, 2013

US Purchasing Managers Shows Impact of Bernanke Money Printing

Ed Yardeni reports:

US manufacturing activity has been expanding at its fastest pace since June 2011. The M-PMI has jumped 4.0 points the past two months to 54.2 in February, after being range-bound the last half of 2012. During the first two months of 2013, the new orders index soared 8.1 points to a 22-month high of 57.8; the production index was 5 points higher at a 10-month high of 56.7. The inventory index (often volatile) climbed 8.5 points over the two months to 51.5. The employment index took a step back (from 54.0 to 52.6), though remains above December’s 51.9 reading. Sub-indexes show backlog orders soared 7.5 points in February to 55.0; indexes for export orders (53.5) and imports (54.0) climbed 3.0 and 4.0 points during the month. 

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