U.S. factory activity contracts in March; orders tumble to 11-year low: ISM

spike

WASHINGTON (Reuters) – U.S. manufacturing activity contracted less than expected in March, but disruptions caused by the coronavirus pandemic pushed new orders received by factories to an 11-year low, reinforcing economists’ views that the economy was in recession.

FILE PHOTO: Line workers spot weld parts of the frame on the flex line at Nissan Motor Co’s automobile manufacturing plant in Smyrna, Tennessee, U.S., August 23, 2018. REUTERS/William DeShazer

The Institute for Supply Management (ISM) said on Wednesday its index of national factory activity fell to a reading of 49.1 last month from 50.1 in February. Economists polled by Reuters had

Read More