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Zacks #1 Stocks on the Move 05/23/2013

Company Name Symbol %Change
ALLIANCE FIB AFOP
5.21%
CYNOSURE INC CYNO
4.42%
DAWSON GEOPH DWSN
4.33%
MARRIOT VAC VAC
3.27%
BLOOMIN' BLMN
2.93%
Todd Bunton

ISM Manufacturing Near Two-Year High

by Todd Bunton

March 01, 2013 | Comments : 2 Recommended this article: (0)

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Economic activity in the manufacturing sector continues to expand, according to the Institute for Supply Management's survey. PMI registered 54.2% for February, which was well ahead of expectations. It was also the highest PMI reading since June 2011.

A reading above 50 percent indicates that the manufacturing economy is generally expanding. February marked the third straight month above the 50% line.

According to the ISM, "As was the case in January, all five of the PMI's component indexes - new orders, production, employment, supplier deliveries and inventories - registered in positive territory in February."New Orders were particularly strong. The component index improved to 57.8, up from 53.3 in January. Meanwhile, the Backlog of Orders component improved significantly - from 47.5 to 55.0.

To put this month's report into perspective, below is a 50-year chart from Calculated Risk Blog that shows PMI over the last 50 years. You can see that manufacturing sector has rebounded nicely following last summer's slowdown:

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