U.S. Manufacturing PMI Rises to Three-Year High – ISM

The manufacturing activity in the United States expanded last month to its best level in about three tears, as the American economy is recovering from the Coronavirus pandemic by recording its ninth consecutive month of growth.

The February manufacturing purchasing managers index (PMI) increased by 2.1% in February to a reading of 60.8 from 58.7 in January, reaching its best level since February 2018, data by the Institute for Supply Management (ISM) showed on Monday.

This came amid a rise in new orders and despite an increase in production costs.