MANUFACTURING SECTOR CONTRACTS IN MARCH

United Press International | April 1, 2003 | Copyright

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Manufacturing sector contracts in March

NEW YORK, Apr 01, 2003 (United Press International via COMTEX) -- The Institute for Supply Management said Tuesday that economic activity in the manufacturing sector contracted in March for the first time in five months.

The group's much watched manufacturing index fell 4.3 percentage points to 46.2 in March from 50.5 percent in February.

Most economists on Wall Street were expecting the index to decline to 49 percent during the month.

The index is closely watched by Wall Street because a reading below the key 50 level indicates ...

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