There was further improvement in other manufacturing surveys in February.
Manufacturing activity slowed in February from the prior month, according to Markit Economics' monthly survey of the industry.
The purchasing manager's index was 54.2, lower than economists' forecast for 54.5 according to Bloomberg.
The Institute of Supply Management will release its PMI at 10 a.m ET. It is forecast at 56.2, up from 56 in the prior month.
"Incoming data suggest this index may have increased further in February, consistent with the further improvement seen in manufacturing indexes from other surveys," said Nomura economists in a preview.
"The headline indexes from the Philly Fed and Empire State surveys were up strongly in February, with broad-based improvement in details, suggesting healthy activity in the manufacturing sector. Moreover, financing conditions remained favorable for this sector as the corporate credit spread narrowed further in February."
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