Slowing Signals in the US Economy: Manufacturing and Service PMI Data Below Expectations

Significant Decline in Manufacturing Data According to preliminary data released by S&P Global, the US Manufacturing Purchasing Managers' Index (PMI) decreased by 1.2 points compared to the previous month, falling to 51.2 in February.
The index, which hit its lowest level in the last seven months, was expected to maintain its January value of 52.4.
Despite the decline, the index remained above the 50-point threshold, confirming that expansion in the sector continues.
Loss of Momentum in Service and Composite PMI Data The Service Sector PMI decreased by 0.4 points on a monthly basis to 52.3 in February.
Falling below the market expectation of 53, the index reached its lowest level in the last 10 months.
The Service PMI had been recorded at 52.7 in January.
The Composite PMI, which covers both manufacturing and service sectors, fell by 0.7 points monthly to 52.3 in February.
The Composite PMI, which stood at 53 in January, reached its lowest level in 10 months with this decline.
The released data reveals that the growth rate in both main sectors of the US economy is slowing down.