U.S. factory activity accelerates in February
Xinhua,March 02, 2018 Adjust font size:
WASHINGTON, March 1 (Xinhua) -- U.S. factory activity accelerated in February, pointing to strong U.S. economic momentum, according to data released by the Institute for Supply Management (ISM) on Thursday.
"Economic activity in the manufacturing sector expanded in February, and the overall economy grew for the 106th consecutive month," said ISM.
The survey-based index of national factory activity rose to a reading of 60.8, up from the 59.1 reading recorded in January.
A reading above 50 indicates expansion in the manufacturing sector, and a reading below 50 signals contraction.
Of the 18 manufacturing industries, 15 reported growth in February, and only two industries reported contraction during the period, said ISM.
The average reading in 2017 was 57.6, the highest level in 13 years. Enditem