NEW YORK. Mar 2: With the US economy showing no sign of halting Its record-breaking expansion. a new report yesterday showed manufacturing activity picked up its pace In February, registering its 13th straight month ol growth, says Reuters.

The National Association of Purchasing Management (NAPM) said its index — a key gauge of the strength in the US manufacturing sector — rose to 56.9 In February, up from 56.3 in January and ahead of the 56.8 reading in December.

But the NAPM gauge showing prices manufacturers paid for (heir goods — closely watched

by markets as a measure of potential inflationary pressures — increased for the third month running to reach its highest level since April 1995.

The price Index grew to 74.1 in February, up from 72.6 in the prior month. This is the first national economic report for February and analysts said It shows no let-up in the high-powered US economy.

Separately, the government reported that spending on new construction projects rose to a record level in January, led by a surge in new housing and public construction projects.