Manufacturing continues to prop up tendency indicator
The Economic Tendency Indicator climbed marginally from 102.0 in January to 102.4 in February and continues to show slightly stronger sentiment than normal in the economy. It is, however, almost exclusively further strong signals from manufacturing that are keeping the indicator above the historical average.The confidence indicator for the manufacturing industry rebounded somewhat in February after falling for four months and still points to a much stronger situation than normal, thanks to strength in consumer goods, especially non-durables such as foods and pharmaceuticals. The