Backlog of Orders^�nbsp;
ISM^®'s Backlog of Orders Index registered 50.3 percent in February, 4.6 percentage points higher than the 45.7 percent reported in January, indicating order backlogs grew after contracting for nine consecutive months. "Backlogs entered expansion territory, a positive for the future months, but at weak levels. Backlog growth is supported by suppliers having trouble delivering materials to support production. The index recorded its strongest performance since April 2019, when it registered 53.9 percent. Three of the six big industry sectors' backlogs contracted during the period, up from two the previous month," says Fiore.

Eleven of the 18 industries reported growth in order backlogs in February, in the following order: Apparel, Leather & Allied Products; Textile Mills; Wood Products; Primary Metals; Paper Products; Furniture & Related Products; Computer & Electronic Products; Electrical Equipment, Appliances & Components; Nonmetallic Mineral Products; Machinery; and Fabricated Metal Products. Four industries reported lower order backlogs in February: Petroleum & Coal Products; Food, Beverage & Tobacco Products; Miscellaneous Manufacturing; and Chemical Products.

New Export Orders^�nbsp;
ISM^®'s New Export Orders Index registered 51.2 percent in February, a decrease of 2.1 percentage points compared to the January reading of 53.3 percent. This is the second consecutive month of growth. "New export orders remained in expansion territory, but at weaker levels compared to the prior month. Three of the six big industry sectors expanded during the period, up from two the previous month. Many respondents reported that their operations were impacted by the coronavirus outbreak," says Fiore.

The eight industries reporting growth in new export orders in February, in the following order, are: Wood Products; Paper Products; Furniture & Related Products; Electrical Equipment, Appliances & Components; Food, Beverage & Tobacco Products; Fabricated Metal Products; Transportation Equipment; and Machinery. The four industries reporting a decrease in new export orders in February are: Nonmetallic Mineral Products; Plastics & Rubber Products; Chemical Products; and Miscellaneous Manufacturing.

Imports^�nbsp;
ISM^®'s Imports Index registered 42.6 percent in February, a decrease of 8.7 percentage points when compared to the 51.3 percent reported for January. This indicates that imports contracted after growing for one month. "Imports returned to contraction territory, with the index recording its weakest performance since May 2009, when it recorded 38.5 percent. Respondents noted the combined effects of the Lunar New Year as well as the coronavirus. Lower imports will continue as the effects of the virus are better understood," says Fiore.

The five industries reporting growth in imports in February are: Wood Products; Printing & Related Support Activities; Nonmetallic Mineral Products; Furniture & Related Products; and Plastics & Rubber Products. The 10 industries reporting a decrease in imports in February — in the following order — are: Electrical Equipment, Appliances & Components; Apparel, Leather & Allied Products; Primary Metals; Petroleum & Coal Products; Fabricated Metal Products; Transportation Equipment; Machinery; Computer & Electronic Products; Chemical Products; and Food, Beverage & Tobacco Products.

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