U.S. factories grow faster as omicron fades, ISM finds, but shortages still a drag
The numbers: The ISM barometer of American factories rose slightly to 58.6% in February in a sign the economy partly rebounded after an omicron-induced lull toward the end of last year.Economists polled by The Wall Street Journal forecast the index to rise to 58% from a... The numbers: The ISM barometer of American factories rose slightly to 58.6% in February in a sign the economy partly rebounded after an omicron-induced lull toward the end of last year.
Now the war in Ukraine threatens to exacerbate inflation in the short run owing to higher prices of oil and other key commodities. The conflict could also add further disruptions to global trade. — Timothy Fiore, ISM Key details: The index of new orders rose 3.8 points to 61.7% last month after falling at the start of 2022 to the lowest level in a year and a half. Production also edged up.
“We are expecting a year of strong demand, higher prices and continued supply chain challenges,” said an executive at a textile mill.
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