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Manufacturing Sector Contracts Again in Feb.
Manufacturing index contracts for 13th straight month, but at slower pace than expected
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A private measure of the nation's manufacturing sector contracted for the 13th straight month in February, but at a slower pace than expected.
The reading suggested to some economists that the decline of the ailing factory sector could be bottoming out, though they expect a recovery is still far in the future.
The Institute for Supply Management, a trade group of purchasing executives, said Monday its manufacturing index actually rose to 35.8 from 35.6 in January. Analysts had expected a drop to 33.8, and a reading below 50 indicates the sector is shrinking.
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Manufacturing Sector Contracts Again in Feb.
Manufacturing index contracts for 13th straight month, but at slower pace than expected
<!--empty -->
A private measure of the nation's manufacturing sector contracted for the 13th straight month in February, but at a slower pace than expected.
The reading suggested to some economists that the decline of the ailing factory sector could be bottoming out, though they expect a recovery is still far in the future.
The Institute for Supply Management, a trade group of purchasing executives, said Monday its manufacturing index actually rose to 35.8 from 35.6 in January. Analysts had expected a drop to 33.8, and a reading below 50 indicates the sector is shrinking.
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