The index that measures this activity fell to 52.6% against 53.4% in January, when analysts expected a level of 52.7%, according to the consensus compiled by Briefing.com.
Manufacturing activity has been below 50% for more than 11 months. Until now, services had remained somewhat away from that level, but this month they approached that figure, after the traditional months of shopping and vacations.
Any data above 50% implies an expansion of activity in any sector. But the growth rate was lower than in January.
“The slight drop in the growth rate in February is the result of faster deliveries from suppliers and a contraction in the employment index,” said the person responsible for the survey, Anthony Nieves.
The employment situation in the service sector deteriorated. The index that measures this parameter fell to 48%, indicating a contraction in the number of jobs and a slowdown in consumption due to a problem that increases each year regarding the large debts on loans of Americans and on credit cards.
For these reasons, US banks have taken various measures since 2023 and after the banking crisis began, which the large left-wing media does not mention, but analysts not aligned with the policies of Joe Biden’s government do.
Source: With information from AFP.
