Economics
U.S. Manufacturing Growth Firms on Stronger Orders, Output
- ISM purchasing managers index rose to 58.6 in February
- New orders advanced to a five-month high, backlogs grew
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U.S. manufacturing activity advanced in February after an omicron-related setback a month earlier, as new orders growth and production accelerated.
The Institute for Supply Management’s gauge of factory activity increased to 58.6 from 57.6 in January, according to data released Tuesday. Readings above 50 indicate expansion. The median projection in a Bloomberg survey of economists called for the measure to improve to 58.