Last year was one to forget for manufacturing, as American producers saw business activity and growth prospects plunge. And unfortunately for those working in the embattled sector, 2016 isn't off to a much better start, for many of the same reasons that 2015 underwhelmed.

Economic activity continued to contract for U.S. manufacturers in January, according to a report released Monday by the Institute for Supply Management, as employment prospects dropped to offset slight gains in new orders and overall production.

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