There’s plenty of bad news from the economy-watchers at the Institute of Supply Management. As the headline for the February roundup of manufacturing stats says: “New Orders, Production, Employment and Inventories Contracting.”
No surprise there. So for what it’s worth, here are a few shiny needles among the haystack:
As for non-manufacturing in general, it didn’t show the slowing of contraction that manufacturing did. Its index dropped to “41.6 percent in February, 1.3 percentage points lower than the 42.9 percent registered in January, indicating contraction in the non-manufacturing sector for the fifth consecutive month at a slightly faster rate,” says ISM.
— Max Heine