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Manufacturers See Slower Gains

Wall Street Journal (04/02/13) Brenda Cronin

Led by the automobile and housing sectors, U.S. manufacturers expanded for the fourth month in a row in March, but at a slower pace than in February, according to the Institute for Supply Management. Overall manufacturing activity fell from 54.2 in February to 51.3 in March. March’s slower pace was attributed to a pullback in new orders and production. Fallout from federal spending cuts was not reflected in the report, but executives did voice “some uncertainty, especially as it relates to government spending and policies,” says Bradley Holcomb, chairman of the ISM Manufacturing Business Survey Committee.