US manufacturing surges most since 1983, underscoring rebound bostonglobe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bostonglobe.com Daily Mail and Mail on Sunday newspapers.
®.
The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management
® (ISM
®) Services Business Survey Committee: The Services PMI
® registered 55.3 percent, 3.4 percentage points lower than the January reading of 58.7 percent. This reading indicates the ninth straight month of growth for the services sector, which has expanded for all but two of the last 133 months. The Supplier Deliveries Index registered 60.8 percent, up 3 percentage points from January s reading of 57.8 percent. (Supplier Deliveries is the only ISM
®
Report On Business
® index that is inversed; a reading of above 50 percent indicates slower deliveries, which is typical as the economy improves and customer demand increases.)
Services PMI® at 55 3%; February 2021 Services ISM® Report On Business® prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Vince Golle, Bloomberg News, (TNS)
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