The February ISM (Institute for Supply Management) Manufacturing PMI(Purchasing Manager Index) came in at 35.8% vs. 35.6% for January. A reading below 50% indicates that the economy is contracting. This report comes out the first of every month, so it is one of the first indications of a change in the trend of economic activity.
While it is still way below 50%, it did show a slower rate of change for February.
