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U.S. manufacturing activity sees slight improvement in February

Xinhua, March 2, 2016 Adjust font size:

U.S. manufacturing activity contracted for the fifth consecutive month in February, but showed slight improvement.

The manufacturing index, also known as the purchasing managers index (PMI), registered 49.5 in February, an increase of 1.3 points from the revised January reading of 48.2, the Institute for Supply Management (ISM) said in a report on Tuesday.

A reading above 50 indicates the sector is generally expanding, while a reading below that level indicates contraction.

Most of the sub-indexes registered increases in the month, which drove the slight improvement in the total index.

Industries surveyed indicated a more positive view of demand than in January, as 12 out of 18 industries surveyed reported increases in new orders. But some industries, such as petroleum and coal products, and chemical products industries, said low oil prices or weak global demand continued to affect their businesses. Endit