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Tuesday, Dec 6, 2022
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Factory, construction slumps persist

NEW YORK — U.S. factory activity contracted again in March while prices paid by manufacturers rose to their highest levels in more than two years, data showed, suggesting higher inflation in a stagnating economy. A separate report showed construction spending in February fell for a fifth month as the nation’s housing industry remained mired in a historic downturn. The bad news on manufacturing came from the Institute for Supply Management, whose index of national factory activity edged up to 48.6 in March from 48.3 in February but remained below the level of 50 that separates growth from contraction. For the full story visit http://www.latimes.com/business/la-fi-econ2apr02,1,5398049.story

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