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Factories No Longer in Freefall Point to U.S. Services Gain

  • Half of manufacturing industries in survey grew in February
  • ISM survey chairman says manufacturing may have found bottom
Updated on

Now that manufacturing is finding a floor, the U.S. economy may get the much-needed pickup in services that will prevent the ceiling from caving in.

The factory slump that began more than a year ago and accelerated toward the end of 2015 showed signs of easing February, according to figures Tuesday from the Tempe, Arizona-based Institute for Supply Management. Gains in orders and production just about made up for sustained cutbacks in inventories.