The Institute for Supply Management's headline index edged up in February, after plummeting to a seven-month low in January. Severe winter weather appears to have played a role in dampening manufacturing activity for the second consecutive month. New orders climbed slightly in February, partially reversing January's 13-point drop. Production tumbled for the second consecutive month, which could also be weather related.

ISM Manufacturing Purchasing Managers Index (PMI), seasonally adjusted, index, 50 or greater indicates expansion, less than 50 indicates contraction