S&P Global's flash Composite Purchasing Managers' Index , seen as a good gauge of overall economic health, climbed to 52.3 in February from January's 50.3.
"February's PMI is broadly consistent with GDP rising at a quarterly rate of just under 0.3%," he added. With recession fears fading, optimism about the year ahead improved again in February. The business expectations index rose to a nine-month high of 61.5, from 61.2 in January. Input costs barely rose and factories raised their selling prices at the slowest pace in almost two years. The output prices index fell to 58.3 from 61.6.
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