March 03, 2008

In sign of contraction, U.S. Feb. ISM falls to 48.3%

WASHINGTON (MarketWatch) -- The U.S. manufacturing sector contracted in February, the Institute for Supply Management reported Monday. The ISM index fell to 48.3% in February from 50.7% in January. Readings under 50% indicate more firms are contracting than expanding. Economists surveyed by MarketWatch expected the index to fall to 47.5%. The new orders index fell to 49.1% from 49.5%. The production index fell to 50.7% from 55.2%. Seven of 18 industries were growing in February. End of Story

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