US Manufacturing Sector Contracts Again; Raw Material Prices Rise

Posted on AllSides March 1st, 2023
From The Center

U.S. manufacturing contracted for a fourth straight month in February, but there were signs that factory activity was starting to stabilize, with a measure of new orders pulling back from more than a 2-1/2-year low.

The Institute for Supply Management survey on Wednesday also showed prices for raw materials increasing last month, suggesting inflation could remain elevated after monthly consumer and producer prices surged in January.

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