Manufacturing index at 20-month high

Mar 01, 2013 | 05:47 PM | Corinna Petry

Tags  Purchasing Managers' Index, PMI, Institute for Supply Management, new orders, production, backlog, prices, metals exports

CHICAGO — U.S. manufacturing activity jumped in February to its highest level since June 2011 amid a strong rise in new orders, order backlogs, and exports and imports.

The Institute for Supply Management’s Purchasing Managers’ Index (PMI) rose to 54.2 for the month, up 1.1 percentage points from January’s reading of 53.1.

Monthly gains were also recorded in the index for new orders, up 4.5 percentage points to 57.8; backlog of orders, up 7.5 percentage points to 55; exports, up 3 percentage points to 53.5; and imports, up 4 percentage points to 54.....





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