U.S. Manufacturing Sector Growth as Tarriff Impositions Impact Input Costs 

The S&P Global US Manufacturing PMI rose to 52.7 in February 2025, surpassing the preliminary estimate of 51.6 and improving from January’s 51.2. This data, compiled by S&P Global based on responses to questionnaires sent to purchasing managers, signaled the second consecutive month of expansion in the sector and the strongest growth since June 2022. Notably, some of the expansion is likely related to advanced purchases as the sector plans for potential price increases and supply disruptions from expected tariff impositions.  Similarly, cost pressures increased as vendors adjust price lists ahead of a wider range of trade tariffs expected on goods and services.