Manufacturing Stays Weak but Tech Sector Improves

Manufacturing Stays Weak but Tech Sector Improves

Manufacturing Stays Weak but Tech Sector Improves

The U.S. manufacturing downturn deepened last month fueled by continuing weakness in new orders and factory production. The Institute for Supply Management’s gauge of factory activity  — the PMI — fell for a fifth straight month in January to 47.4, its weakest reading since May 2020. Any reading below 50.0 indicates contraction. Rising interest rates,…

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