Story developing. Stay tuned for updates here.
The numbers: The Institute for Supply Management’s index of manufacturers declined to 47.8% in February from 49.1% in the prior month.
Economists polled by the Wall Street Journal had predicted an ISM reading of 49.5%.
Numbers below 50% are viewed as negative for the industrial side of the economy.
Market reaction: The Dow Jones Industrial Average
DJIA,
and S&P 500
SPX,
were mixed in Friday trades.
