The nation’s manufacturing sector failed to grow in March, according to the Arizona-based Institute for Supply Management ‘s latest report.
Results of ISM’s Manufacturing Business Survey show that the first quarter of 2008 was the weakest for the U.S. economy since the second quarter of 2003, the institute said. The institute’s purchasing manager’s index fell below 50 for the second consecutive month, coming in at 48.6.
Among the industries that reported contraction in March were electrical equipment, appliances, fabricated metal products and chemical products. Industries that reported growth in March include apparel, printing, machinery, transportation equipment and food, beverage and tobacco products.
