Manufacturing Improves in February
Tempe, AZ, March 3, 2014 -- The Institute for Supply Management's manufacturing survey rose to 53.2 in February, up from 51.3 in January.
Economists were expecting a reading of 52.3.
The New Orders Index rose to 54.5, an increase of 3.3 percentage points from January's reading of 51.2, according to the report.
The Production Index registered 48.2, a decrease of 6.6 percentage points compared to January's reading of 54.8. Inventories of raw materials increased by 8.5 percentage points to 52.5.