The Markit Economics preliminary index of U.S. manufacturing increased to 56.7 in February from a final reading of 53.7 last month, the London-based group said today.
A figure greater than 50 for the purchasing managers’ measure indicates expansion. The median forecast in a Bloomberg survey called for 53.6, with estimates ranging from 52.5 to 55.
The Markit measure is based on replies from 85 percent to 90 percent of American manufacturers who respond to a survey of more than 600 companies.
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