US Manufacturing Gauge Drops as Industry Struggles for Momentum
- ISM factory index declined 1.3 points in February to 47.8
- New orders, production and employment measures decreased
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A measure of US factory activity shrank at a faster pace in February as orders, production and employment contracted, suggesting manufacturing is struggling for momentum.
The Institute for Supply Management’s manufacturing gauge fell 1.3 points to 47.8 last month from a 15-month high in January, according to data released Friday. A level below 50 indicates shrinking activity, and the figure was weaker than all but one estimate in a Bloomberg survey of economists.