U.S. consumer goods output growth accelerates in February to 13-month high

The U.S. consumer goods sector hinted at a more rapid growth in output in February, according to the latest U.S. Sector PMI data from IHS Markit. Moreover, the upturn accelerated to a solid rate that was the most rapid since January 2017. Output growth in the industrials sector remained sharp in February, with the pace of increase accelerating further to reach a six-month high. Furthermore, the sector hinted at the most solid performance of all seven monitored sectors.

However, the technology sector hinted at a weaker rate of output growth, although one that continued to be steep overall. The latest growth was the most decelerating since May 2017. After a near-stagnation in activity in January, the financials sector rose sharply in February and at the most rapid pace for three months. The healthcare sector also continued to grow, and at the most solid pace of growth since August 2017. On the contrary, the basic materials sector showed a further moderation in the pace of production growth to a six-month low.

At 19:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was slightly bearish at -58.1262. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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