American manufacturers were slightly less morose last month.
The Institute for Supply Management on Wednesday said its index of factory activity ticked up to a seasonally adjusted 47.7 in February from the 32-month low of 47.4 hit in January. That still leaves it below 50, indicating that more of the manufacturers the ISM polled experienced reduced activity than growth. A similarly constructed manufacturing index from S&P Global rose to 47.3 last month from 46.9 in January.
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