Economy stalls

Export figures are based on fob values excluding re-export; import figures on cost, insurance, and freight. Sources: Haver Analytics (New York), based on data from the U.S. Dept. of Commerce and The Federal Reserve Board. Manufacturing output was flat in February, despite growth in the overall economy, according to a report published recently by the Institute of Supply Management (ISM; Tempe, AZ). Manufacturers’ order backlogs continue to erode, and although inventories are at “reasonable” levels, rising prices and falling volume are a...

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