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    March 4, 2024

    ISM: Manufacturing contracts again in February

    Written by Ethan Bernard

    US manufacturing activity continued to slump in February, contracting for the 16th consecutive month, according to the latest report from the Institute for Supply Management (ISM).

    The ISM Manufacturing PMI was 47.8% in February, off 1.3 percentage points from the 49.1% logged in January. A reading above 50 indicates the manufacturing economy is growing, while a reading below 50 indicates contraction.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

    Read more from Ethan Bernard

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