Beneath the ISM Numbers By Chris Versace About this article: This morning, the Institute for Supply Management released its snapshot of manufacturing activity for February. While the headline figure for the purchasing managers index was slightly better than expected, the underlying data, which points to further weakness in the near term, is the real story. Putting these data in context, a reading above 41.2 generally suggests the domestic economy is growing; the February headline reading was 35.8. As such, this continues the trend that began in October with readings suggesting a manufacturing contraction. The only positive view to be had in the last two months is that the rate of decline has slowed overall. That said, continued weakness in new orders and the employment components do not bode well for the near term. ISM Manufacturing Purchasing Managers Index January 2000 to February 2009 Institute for Supply Management Digging... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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