国际英语新闻：U.S. manufacturing sector contracts for 13th straight month

WASHINGTON, March 2 (Xinhua) -- Economic activity in the U.S. manufacturing sector failed to grow in February for the 13th consecutive month, and the overall economy contracted for the fifth straight month, the Institute for Supply Management (ISM) reported Monday.

    The Tempe, Arizona-based trade group said its manufacturing index, which reflects the opinions of purchasing managers at factories, plants and utilities, registered 35.8 last month, slightly better than the 35.6 reading in January.

    A reading above 50 indicates growth while a reading below 50 indicates contraction. Analysts had been expecting a drop to 33.8 for February.

    Last month, the ISM's production index registered 36.3, up from January's 32.1. The index for new orders, however, edged down to 33.1 from a reading of 33.2 in the previous month.

    The index for employment declined to 26.1 from 29.9 in January, indicating that manufacturers were cutting jobs at a rapid pace. The price index, which is an inflation gauge, was unchanged at 29.0.

    "Manufacturing continues to decline at a rapid rate in February," Norbert J. Ore, chair of the ISM manufacturing business survey committee, said while releasing the report.

    While production has slowed its rate of decline, employment continues to fall precipitously, the chair said.

    "Prices continue to decline," Ore said, "but price advantages are not sufficient to overcome manufacturers' apparent loss of demand."

    "Survey respondents appear generally pessimistic about recovery in 2009. Some express hope that the stimulus package will help their industry," Ore said.

    The ISM is a trade association representing approximately 40,000 supply management professionals.