ISM Feb Manufacturing PMI Rose To 60.8 vs Jan 58.7

US ISM NEW ORDERS INDEX 64.8 FEB VS 61.1 JAN

US ISM EMPLOYMENT INDEX 54.4 FEB VS 52.6 JAN

US ISM PRODUCTION INDEX 63.2 FEB VS 60.7 JAN

US ISM SUPPLIER DELIVERY INDEX 72.0 FEB VS 68.2 JAN

US ISM INVENTORIES INDEX 49.7 FEB VS 50.8 JAN

The ISM Mfg PMI rose 2.1pt to 60.8 in Feb, marking a three-year high and coming in stronger than markets expected (BBG: 58.6). Among the main five categories, Supplier Deliveries recorded the largest gain, up 3.8pt to the highest level since Apr. New Orders rose 3.7pt, while Production ticked up 2.5pt and Employment increased 1.8pt in Feb. Inventories was the only major category to register a decline, falling by 1.1pt and shifting the indicator below the 50-mark for the first time since Sep. Among the other categories, Order Backlogs saw the largest increase, up 4.3pt to 64.0, followed by Prices which rose to 86.0, its highest level since Jul 2008. Exports edged up 2.3pt to 57.2, while imports eased 0.7pt to 56.1. Customer's inventory ticked down 0.6pt to 32.5, its lowest level since Dec 2009.