Manufacturing activity rises in February, getting closer to growth, reports ISM
SCMR (Supply Chain Management Review)
MARCH 1, 2023
The report’s key metric, the PMI, at 47.7 (a reading of 50 or higher indicates growth), eked out a 0.3% increase, from January to February, contracting, at a slower rate, for the fourth consecutive month. The last four months of contraction, through February, were preceded by a stretch of 29 consecutive months of growth. ISM also said that the overall economy contracted, at a slower rate, in February, for the third consecutive month, which was preceded by 30 consecutive months of growth.
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