(CercleFinance.com) – Activity in the American manufacturing sector contracted for the 16th month in a row in February, according to the monthly survey published Friday by the Institute for Supply Management (ISM).
The ISM manufacturing index fell to 47.8 last month, compared to 49.1 in January, indicating an intensification of the contraction in industry, while economists expected it to rise to 49.5.
Illustration of the weakness of demand, the new orders sub-index fell by 3.3 points to fall below the critical threshold of 50 points, to 49.2 against 52.5 the previous month.
The component measuring production also fell into the contraction zone, at 48.4 in February after 50.4, while that of paid prices remains high, at 52.5 against 52.9 in January.
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