WASHINGTON (MarketWatch) — The manufacturing sector saw an
acceleration in February to the best level in close to two years, according to a
survey released Friday that points to a business sector not afraid Washington
will step on its toes.
The Institute for Supply Management’s manufacturing index climbed 1.1 points to 54.2%, coming in ahead of the 52.5% forecast in a MarketWatch-compiled economist poll and reaching the best level since June 2011. ISM reported that 15 out of the 18 industries it follows reported growth.
“This appears to be yet another indicator reflecting a pickup in business activity following January’s ‘fiscal cliff’ relief,” said Steven Wieting of Citigroup in a note to clients.
U.S. stocks /quotes/zigman/3870025 SPX +0.23% were trading lower on the session, though the ISM data helped moved markets off their worst levels.
See: Stocks moderate drop after manufacturing data
http://www.marketwatch.com/story/manufacturing-sector-revs-up-in-february-2013-03-01
