Purchasing Managers Index Rises Unexpectedly

Washington, DC, March 2, 2009--U.S. manufacturers said business deteriorated again in February for the 13th consecutive month, but the pace of the decline didn't accelerate as expected.

The Institute for Supply Management said Monday that its monthly purchasing managers' index rose to 35.8% in February from 35.6% in January. Economists were expecting the ISM to fall to 34%.

None of the 18 industry sectors reported growth in February. Production fell at a slower pace in February, but employment sentiment dropped to 26.1%, the lowest reading in the 61-year history of the index. Readings over 50% indicate more firms are reporting improving conditions than are reporting declines.