U.S. manufacturing stalled last month. It is, of course, only the start.
The Institute for Supply Management on Wednesday said that its manufacturing index slipped to 49.1 in March from 50.1 in February. That was only marginally below the 50 level that separates expanding and contracting factory activity, but it was deceptive. Most components of the index, including new orders, production and employment, showed starker drops. A slowdown in supplier deliveries boosted the overall number.
…
