BALTIMORE — American manufacturers expanded at a slower rate in February, as the pace of new orders, production and employment each slipped.
U.S. #manufacturing expansion in February slowest in over two years, according to @ISM® Report On Business®. Declines in consumption-measuring indexes (Production and Employment) help lower composite PMI® 2.4 percentage points to 54.2%. https://t.co/AtOuq8N2xR #ISMROB #economy— Institute for Supply Management (@ism) March 1, 2019
The Institute for Supply Management, an association of purchasing managers, says that its manufacturing index fell to 54.2 last month, down from 56.6 in January. Readings above 50 signal growth in manufacturing and the sector has been expanding for the past 30 months.
The companies surveyed for the index suggested that the U.S. economy is healthy, although concerns exist about the trajectory of the global economy and any lingering impacts from the import taxes imposed by President Donald Trump.