Published
|
Updated
WASHINGTON – The nation's manufacturing sector contracted in January, reversing the prior month's expansion, a trade group said Thursday.
The Tempe, Ariz.-based Institute for Supply Management said its manufacturing index registed 49.3 in January, compared with 51.4 in December.
A reading below 50 indicates a contraction in U.S. manufacturing, while a reading above 50 signals growth.
The January reading was contrary to analysts' expectations of a reading of 51.5.
Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox
Arrives Weekdays