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ISM manufacturing index hits lowest level since November 2016

By Fred Imbert, CNBC

Mar 01, 2019

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U.S. manufacturing activity expanded at a slower-than-expected pace last month and reached its lowest level in more than two years, according to data released Friday.

The ISM Manufacturing Index slipped to 54.2 in February from 56.6 in January, the Institute for Supply Management said. Economists polled by Refinitiv expected the index to slip to 55.5 in February.

The index's print was also the weakest since November 2016. A decline in new orders, production, employment and prices all contributed to the broader index's decline, ISM data showed.