ISM manufacturing gauge rises to 61.4% in February (by Jeffry Bartash)
WASHINGTON (MarketWatch) - American manufacturers remained in a strong expansionary mode in February, according to a closely followed index. The Institute for Supply Management on Tuesday said its manufacturing gauge climbed to 61.4% in February, the highest level since May 2004. Any reading over 50 indicates that more manufacturers are expanding instead of shrinking. The manufacturing sector has now grown 19 straight months, outshining most other U.S. industries during that time. Economists surveyed by MarketWatch had forecast the index to edge up to 61.0%.