Manufacturing in U.S. Shrank in January for a Fourth Month
- New orders, a leading signal for production, resume expansion
- Factory employment gauge falls to weakest since June 2009
A technician inspects a U.S Air Force Boeing C-17 Globemaster III at the Boeing Global Services and Support facility in San Antonio, Texas.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Manufacturing in the U.S. shrank in January for a fourth consecutive month as businesses cut staffing plans. Growth resumed in new orders and production, indicating some stabilization in the industry.
The 48.2 reading for the for Supply Management’s index followed December’s 48 level that was the weakest since June 2009, data from the Tempe, Arizona-based group showed Monday. The results were lower than the 48.4 median forecast in a Bloomberg survey of 79 economists. Levels less than 50 for the gauge indicate contraction.