BEAT: ISM Crushes Expectations, Rising To 54.2

UPDATE:

The US economy keeps ticking.

ISM for February came in at 54.2, ahead of expectations of 52.5 and ahead of last month's 53.1.

Today's economic data in the US has been mixed today, but this is solid.

Michael Bock of Phoenix Partners has the summary:

ISM 54.2 Vs. 52.5 so that's better. Of note is New Orders higher at 57.8 vs 53.3, Backlogs higher at 55.0 vs 47.5 and New Export Orders too (53.5 vs 50.5). Employment does tick down 52.6 vs 54.0. Overall solid and supportive of growth case.