Factory Index Slips But Signals ‘Soft Landing’

Factory Index Slips But Signals ‘Soft Landing’

The leading measure of U.S. factory activity contracted in February amidst a decline in new orders and employment levels dropping to a 7-month low. The Institute for Supply Management’s leading index, the PMI, slipped 1.3 percent last month to 47.8 from 49.1 in January. At 16 months, this is the longest stretch of manufacturing contraction…

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