According to the most recent data release from the Institute for Supply Management, economic activity in the manufacturing sector expanded in February, and the overall economy grew for the 93rd consecutive month.

The PMI for February registered a reading of 57.7%, which marked a 1.7% increase over the January reading of 56%. In addition, the new orders and production indices both experienced increases as well, with the new orders index rising 4.7% to 65.1% while the production index rose 1.5% to 61.4%. Inventories of raw materials also got a boost in February, rising above the 50% threshold to 51.5%.

Both the employment and prices indices fell during the month. The employment index decreased 1.9% to 56.1% and the prices index remained high (68%), but that was still 1% below January’s reading. Such a reading still means prices for raw materials were higher for the 12th consecutive month.

Of the 18 manufacturing industries, 17 reported growth in February in the following order, including textile mills, machinery and transportation equipment. The only industry that reported contraction in February was furniture and related products.