U.S. manufacturing PMI for January has come in at 47.4%, representing the third consecutive contraction of economic activity in the manufacturing sector, with the petroleum products and coal industry among the 15 showing contractions, according to data released Wednesday by the Institute for Supply Management (ISM). The U.S. January Manufacturing PMI of 47.4% comes in 1% lower than December’s seasonally adjusted 48.4%, indicating “a second month of contraction after a 30-month period of expansion”, the ISM reported. …
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