American factories expanded in February for the second straight month, despite disruptions caused by the coronavirus outbreak. The winning streak, however, may prove short-lived.
The Institute for Supply Management, an association of purchasing managers, said Monday that its manufacturing index registered 50.1 last month. That is down from 50.9 in January. But anything above 50 signals growth.
The February reading was slightly lower than economists expected.
Fourteen of 18 manufacturing industries expanded in February, led by wood products and furniture manufacturers.