US manufacturing weakens in February: ISM
by ChemOrbis Editorial Team - content@chemorbis.com
US manufacturing activity slowed for a fourth straight month in February, according to data reported by the Institute of Supply Management (ISM). The Institute’s manufacturing index fell to a reading of 52.9 in February from the previous month’s reading of 53.5. Any reading above 50 indicates expansion.
The decline was attributed to weakness in overseas economies and supply issues at West Coast ports stemming from labor strikes.
However, according to a separate report released by Markit Economics, manufacturing in the US increased to a reading of 55.1 in February from a reading of 53.9 in the previous month, posting the highest level since October due to higher production.
The decline was attributed to weakness in overseas economies and supply issues at West Coast ports stemming from labor strikes.
However, according to a separate report released by Markit Economics, manufacturing in the US increased to a reading of 55.1 in February from a reading of 53.9 in the previous month, posting the highest level since October due to higher production.
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