By Timothy R. Homan and Robert Willis / Blooberg
Manufacturing in the U.S. grew in February at the fastest pace in almost seven years, driven by gains in orders, employment and exports that signal factories will continue to propel the expansion.
The Institute for Supply Management’s factory index increased to 61.4, exceeding the median forecast of economists surveyed by Bloomberg News and the highest level since May 2004, the Tempe, Arizona-based group said today. Readings greater than 50 signal growth. Compared with similar measures released today in Europe and Asia, the data put the U.S. at the forefront of the global manufacturing rebound.
