Tempe AZ, March 2, 2006--According to the Institute for Supply Management, factory activity accelerated in February. The ISM index rose to 56.7% in February from 54.8% in January.
The increase was larger than expected. The consensus forecast of estimates collected by Marketwatch was for the index to inch higher to 55.8%.
Readings above 50 indicate expansion.
New orders rose to 61.9% in February from 58.0% in January.
The employment index rose to 55.0% from 51.3%. The price index fell to 62.5% from 65.0%.
