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The Institute for Supply Management’s purchasing managers index for U.S. manufacturing rose to a reading of 53.2 percent in February. The reading indicates continued expansion, and at a faster pace than indicated by January's reading of 51.3 percent. Readings above 50 indicate growth.
MarketWatch reports the rise in the index was stronger than expected.
The employment portion of the index was unchanged in February at a reading of 52.3.