US manufacturing activity jumps to three-year high in February

US manufacturing expanded in Februar y at the fastest pace three years with the arrival of a surge in new orders. The Institute for Supply Management reported Monday that its gauge of manufacturing activity rose to a reading of 60.8 per cent last month, 2.1 percentage-points above the Januar y level of 58.7 per cent. It was the strongest per formance since February 2018. Any reading above 50 indicates expansion in the manufacturing sector.