Canada’s S&P Global Manufacturing PMI for February printed at 49.7 compared to the previous 48.3, an improvement but still in contraction territory below 50.0.
The US ISM Manufacturing PMI for February fell to 47.8 versus the forecasted uptick to 49.5 from 49.1.
ISM Manufacturing PMI: declines to 47.8 in February vs. 49.5 expected.
The University of Michigan Consumer Sentiment survey index also eased to 76.9 in February, down from the forecast of a hold at the previous 79.6.
ISM Manufacturing Prices Paid also ticked lower to 52.5, down from the 53.0 forecast and the previous month’s 52.9.
Easing data is sparking investor risk appetite as inflation figures up odds of a Federal Reserve (Fed) rate cut.
Fed’s Monetary Policy Report: Inflation expectations are broadly consistent with 2% goal
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