Economics

U.S. Manufacturing Expands Most in Three Years as Prices Climb

  • ISM factory gauge improved more than forecast in February
  • Measure of prices paid for materials highest since 2008
Prices Climb as U.S. Manufacturing Expands Most in Three Years
Lock
This article is for subscribers only.

U.S. manufacturing expanded in February at the fastest pace in three years and a gauge of materials costs accelerated the most since 2008 as supply shortages challenge the industry.

A gauge of factory activity increased to 60.8 from 58.7 a month earlier, according to Institute for Supply Management data released Monday. Readings above 50 indicate expansion and the figure exceeded the 58.9 median estimate in a Bloomberg survey of economists.