The shift in the share of respondents reporting “unchanged” to “worse” conditions led to a decrease in the current conditions component to 57.7 points in February, down from the previous month’s 62.5. After having expanded for four consecutive months, the current conditions reading still stands at its second highest point since February 2023. Although the quantitative score declined, the member comments, similar to last month were mixed, largely reflecting stability. Panel members mentioned large data center projects in the coming months, and solid orders activity in the first quarter, but at least one respondent noted concern about rising supply chain disruptions.

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