Economic activity in the US manufacturing sector expanded in February, and the overall economy grew for the 106th consecutive month, said the nation's supply executives in the latest Manufacturing ISM Report On Business.
The February PMI registered 60.8 percent, an increase of 1.7 percentage points from the January reading of 59.1 percent.
The New Orders Index registered 64.2 percent, a decrease of 1.2 percentage points from the January reading of 65.4 percent.
The Production Index registered 62 percent, a 2.5 percentage point decrease compared to the January reading of 64.5 percent.
The Employment Index registered 59.7 percent, an increase of 5.5 percentage points from the January reading of 54.2 percent.
The Supplier Deliveries Index registered 61.1 percent, a 2 percentage point increase from the January reading of 59.1 percent.
The Inventories Index registered 56.7 percent, an increase of 4.4 percentage points from the January reading of 52.3 percent.
The Prices Index registered 74.2 percent in February, a 1.5 percentage point increase from the January reading of 72.7 percent, indicating higher raw materials prices for the 24th consecutive month.
Of the 18 manufacturing industries, 15 reported growth in February, in the following order: printing and related support activities; primary metals; machinery; computer and electronic products; petroleum and coal products; nonmetallic mineral products; plastics and rubber products; fabricated metal products; chemical products; transportation equipment; textile mills; miscellaneous manufacturing; paper products; electrical equipment, appliances and components; and food, beverage and tobacco products.
Two industries reported contraction during the period: apparel, leather and allied products; and furniture and related products.