US ISM Manufacturing Employment (Feb) 48.8 (Prev. 48.1)
The US ISM Manufacturing Employment index came in at 48.8 for February, reflecting an improvement from January's reading of 48.1.
US President Trump says "We are about to hit them hard, the operation is progressing very well, the big wave hasn't happened yet and it will come soon", via Al Jazeera
Iran's IRGC says US military support intelligence centres and warehouses and the Israeli army's communications industry complex are among the targets of the 11th wave, Tehran Times reports
US ISM Manufacturing Employment (Feb) 48.8 (Prev. 48.1)
Newsquawk European Market Wrap - 2nd March 2026
Loud explosions are reportedly being heard from area near the nuclear facility and air base in central city of Isfahan, according to Iranian news websites
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While the increase is a positive sign, it remains below the neutral 50 threshold, indicating ongoing contraction in manufacturing employment. This data underlines the challenges in the sector and could imply pressures on overall economic growth, influencing market expectations around monetary policy and future rate decisions.
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