Business Activity in U.S. Unexpectedly Picked Up in February

Business activity in the U.S. unexpectedly expanded in February at the fastest pace in almost a year, a sign the manufacturing industry is poised for growth.

The MNI Chicago Report business barometer rose to 56.8, the highest level since March, after a reading of 55.6 in January. Numbers greater than 50 signal expansion. The median forecast of 51 economists surveyed by Bloomberg was 54.