Manufacturing failed to grow in February, according to the nation’s supply executives in the latest Manufacturing ISM Report on Business.
The PMI fell below 50%, which indicates weaker performance in February when compared with January. Manufacturers’ order backlogs continue to erode as the New Orders Index remained below 50% for the third consecutive month.
With the Inventories and Customer Inventories Indexes indicating that manufacturing inventories are at reasonable levels, the major concern is rising prices and falling volume.
