Surprised on the upside as the expansion continues:
The S&P Global US Composite PMI rose to 50.2 in February 2023, up sharply from 46.8 in the previous month and easily beating market expectations of 47.5, a preliminary estimate showed. The latest reading was the highest for eight months and signaled broadly unchanged output on the month across the private sector, helped by a marginal increase in service sector output and a slower decline in manufacturing production. New orders continued to contract, although the rate of decline eased to the slowest since last October, with new export sales decreasing at the joint-softest rate since last May. Meanwhile, the rate of job creation accelerated to the fastest since September, while backlogs of work fell the least for five months.
source: Markit Economics
The economy is still looking solid:
