No boom, no bust. That describes yesterday's flash estimates for February's M-PMI and NM-PMI released by S&P Global. They both track the comparable series compiled by the Institute for Supply Management (ISM).
The flash M-PMI rose from 46.9 in January to 47.8 this month (chart). It suggests that the ISM's version of this index will uptick but remain below 50.0. The rolling recession that hit consumer goods manufacturers last year is probably starting to abate.
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