March 1 (Reuters) – Manufacturing activity in the United States fell unexpectedly in February, shows the monthly survey from the Institute for Supply Management (ISM) published on Friday.
The ISM manufacturing index stood at 47.8, compared to 49.1 in January. Economists polled by Reuters expected an average of 49.5 in February.
The 50 mark separates contraction and growth in activity.
The new orders subindex rose to 49.2 in February from 52.5 the previous month, while the index of prices paid by manufacturers eroded to 52.5 from 52.9 the previous month and consensus at 53.0.
Employment in factories, for its part, fell to 45.9 in February after 47.1 in January. (Written by Corentin Chappron, edited by Kate Entringer)
©2024 Thomson Reuters, all rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. “Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.