Factories in U.S. Probably Expanded on Capital Spending

Manufacturing in the U.S. probably expanded for a third month in February as the global economy stabilized and businesses invested more in new equipment, economists said before reports this week.

A reading of 52.5 is projected for the Institute for Supply Management’s factory index after a nine-month high of 53.1 in January, according to the median estimate of 64 economists surveyed by Bloomberg. A number greater than 50 shows growth in the industry that accounts for about 12 percent of the economy. Other data may show consumer spending and orders for durable goods excluding transportation equipment rose in January.