Manufacturing expanded, but at a slower pace than the previous month. The production index in the state that follows only California in manufacturing output, slipped from 12.9 in January to 6.2 in February.
Numbers above zero indicated expansion.
The new orders index remained positive, but just barely, as the index fell from 12.2 to 2.8. The capacity utilization index slipped from 14 to 5.4.
For the third consecutive month, the general business activity index remained positive. But it, too, slipped in the month, falling from 5.5 to 2.2, the Fed said.
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