تفاصيل الخبر
أظهرت قراءة مؤشر PMI المركب لشركة إس.بي.جي العالمية لشهر فبراير انتهاءه عند 51.9، ما دون التقدير الأولي عند 52.3 والقراءة السابقة عند 53.0. تراجع مؤشر الخدمات إلى 51.7 من 52.3. امتدت نشاط خمسة من سبعة قطاعات أمريكية، مع تصدر قطاع الرعاية الصحية النمو، بينما تراجعت الخدمات الاستهلاكية بسبب تساقط الثلوج الشديد. ارتفع مؤشر الإنتاج إلى 54.5، مما يشير إلى نشاط الأعمال الأقوى. لكن تباطأ نمو السلع الاستهلاكية والماليات، واستمر قطاع المواد الأساسية في الانخفاض منذ منتصف 2025. تُظهر هذه البيانات توقعات اقتصادية مختلطة للولايات المتحدة، مع استمرار النمو لكن ببطء. قد تؤثر انكماش الخدمات الاستهلاكية والاضطرابات المرتبطة بالطقس على النمو في المدى القريب. سيقوم التجار بتقييم ما إذا كانت الاحتياطي الفيدرالي قد تؤجل خفض أسعار الفائدة، حيث تتعارض البيانات مع مخاوف التضخم الأخيرة. يُظهر أداء قطاع الرعاية الصحية القوي وتماسك الصناعات القوية بعض التفاؤل. للمستثمرين في الخليج، تسلط هذه البيانات الضوء على الاختلافات القطاعية. يجب مراقبة تدوير الأسهم القطاعية في السوق الأمريكي، خاصة الرعاية الصحية والصناعات، التي تفوقت على القطاعات الأخرى. سيكون رد فعل الاحتياطي الفيدرالي على البيانات المختلطة أمرًا حاسمًا. نقاط المراقبة الرئيسية تشمل بيانات التوظيف القادمة واجتماعات البنوك المركزية.
The S&P Global Composite PMI final reading for February came in at 51.9, slightly below the preliminary estimate of 52.3 and the previous month's 53.0. The services PMI also edged lower to 51.7 from 52.3. Five of seven U.S. sectors expanded, with healthcare leading growth, while consumer services contracted due to heavy snowfall disrupting travel and leisure. The output index rose to 54.5, signaling stronger business activity. However, consumer goods and financials saw growth slowdowns, and basic materials continued a decline since late 2025.
This data suggests a mixed economic outlook for the U.S., with expansion persisting but at a slower pace. The contraction in consumer services and weather-related disruptions could weigh on near-term growth. Traders will assess whether the Federal Reserve might delay rate cuts, as the data contrasts with recent inflation concerns. The healthcare sector's strong performance and industrial resilience offer some optimism.
For markets, the report highlights sectoral divergences. Gulf investors should monitor U.S. equity sector rotations, particularly healthcare and industrials, which outperformed. The Fed's policy response to mixed data will be critical. Key watchpoints include upcoming employment data and central bank meetings.
Prior estimate 52.3. Prior month 53.0S&P global composite index 51.9S&P Global services PMI final 51.7 versus 52.3 preliminary and 52.7 lastDetails from S&P GlobalOverall ActivityFive of seven US sectors expanded in February, down from six sectors expanding in January.Consumer Services returned to contraction, weighing on the overall sector performance.Heavy snowfall impacted travel, tourism, and leisure, contributing to the Consumer Services decline.Overall Output Index rose to 54.5 (from 51.5), signaling stronger and accelerating business activity.February growth exceeded the 2025 average of 52.3, indicating a stronger pace of expansion.HealthcareFastest-growing sector in February, the first time since September 2024.Activity growth accelerated sharply compared to January.IndustrialsSolid expansion in activity, outperforming several sectors.Growth slowed slightly from recent months and was the weakest in four months, but still near long-term trend levels.Consumer GoodsOutput growth slowed notably, the largest deceleration since January.Output index fell to the lowest level since September 2025.FinancialsGrowth slowed, marking the joint-slowest pace of expansion since April 2025.TechnologyExpansion continued but at a slower pace compared with prior months.Consumer ServicesActivity declined, one of the fastest contractions since late-2023.Weakness partly attributed to severe winter weather affecting travel and leisure activity.Basic MaterialsOutput declined slightly, continuing the downturn that began in December 2025.However, the contraction was the smallest since the decline started, suggesting some stabilization.US Sector PMI® indices are compiled from responses to questionnaires sent to purchasing managers in S&P Global's US manufacturing and services PMI survey panels, covering over 1,000 private sector companies. Indices are available for the basic materials, consumer goods, consumer services, financials, healthcare, industrials and technology sectors. This article was written by Greg Michalowski at investinglive.com.
