US manufacturing activity surges to a three-year high in February

REUTERS/Chris Keane US manufacturing expanded more than expected in February, according to the Institute of Supply Management. The monthly purchasing manager's index jumped to 57.7, the highest since December 2014 and more than economists' forecast for 56.2. According to ISM, orders rose at the fastest pace since February 2013. Other regional manufacturing surveys, including those from Philadelphia and New York, had pointed to more overall improvement. Markit Economics' monthly PMI was 54.2, low...