WASHINGTON — U.S. manufacturing expanded in February at the fastest pace in three years with the arrival of a surge in new orders.
The Institute for Supply Management reported March 1 that its gauge of manufacturing activity rose to a reading of 60.8% last month, 2.1 percentage-points above the January level of 58.7%.
It was the strongest performance since February 2018. Any reading above 50 indicates expansion in the manufacturing sector.
