U.S. manufacturing nearly stagnates with virus hitting suppliers

THE INSTITUTE for Supply Management manufacturing index slid to 50.1 in February. A value above 50 indicates expansion and a value below 50 indicates contraction. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT
THE INSTITUTE for Supply Management manufacturing index slid to 50.1 in February. A value above 50 indicates expansion and a value below 50 indicates contraction. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT
WASHINGTON – A key gauge of U.S. manufacturing retreated to near-stagnation in February amid mounting concern that the world’s largest economy won’t be able to dodge a hit from the coronavirus. The Institute for Supply Management index slid to 50.1 from 50.9 a month earlier, according to data Monday that showed a steeper drop than…

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