The Jordan, Knauff & Company (JKC) Valve Stock Index was down 5.9 percent over the last 12 months, while the broader S&P 500 Index was up 3.9 percent. The JKC Pump Stock Index fell 11.6 percent for the same time period.1 The February Institute for Supply Management’s Purchasing Managers’ Index (PMI) registered 54.2 percent, a decrease of 2.4 percentage points from the January reading of 56.6 percent. The New Orders Index registered 55.5 percent, a decrease of 2.7 percentage points from January. The Production Index fell 5.7 percentage points to 54.8 percent. The Prices Index registered 49.4 percent, a 0.2 percentage point decrease from January, indicating lower raw materials prices for the second straight month. Exports continued to expand slightly to 52.8 percent, up 1.0 percentage point compared to January.


