Economic activity in the United States rose to an eight-month high in February

The Standard & Poor's Global survey showed that the composite purchasing managers' index, which combines the industrial and service sectors in the United States, rose to 50.2 points in February, compared to 46.8 points in January, the highest level in eight months.

The composite PMI new orders index rose to 48.6 points in February, compared to 47.8 points in January, while a measure of prices paid by firms for inputs fell to 60.6 points in February, compared to 63.0 points in January.

The manufacturing PMI rose to 47.8 points in February, compared to 46.9 points in January, and the services PMI rose to 50.5 points in February, compared to 46.8 points in January. The index had contracted for seven consecutive months.