Institute for Supply Management on Monday showed its reading on U.S. manufacturing edged slightly lower in February, although the index still indicated growth for the second straight month. The ISM said its manufacturing PMI slipped to 50.3 in February after rising to 50.9 in January, but a reading above 50 still indicates growth. The modest drop by the headline index partly reflected a notable downturn by new orders, as the new orders index fell to 48.6 in February from 55.1 in January. The production index also fell to 50.7 in February from 52.5 in January, while the employment index slipped to 47.6 in February from 50.3 in January.

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