The Markit flash US manufacturing PMI for February released today showed the pace of expansion in the activity dropped to lowest level since Oct 2012. The official report says, “At 51.0 in February, down from 52.4 in January, the seasonally adjusted Markit Flash U.S. Manufacturing Purchasing Managers’ Index was also at its joint lowest level since September 2009.” Key points The strong dollar and less favourable global economic conditions continued to act as a drag on export sales in February. Employment growth was maintained in February, although the rate of job creation was one of the weakest seen over the past three years. Average cost burdens for the sixth successive month, factory gate prices dropped at the fastest pace since June 2012. For more information, read our latest forex news.