The U.S. manufacturing sector contracted for the 15th consecutive month in January, following 28 months of growth. The Institute of Supply Management (ISM) reported that the reading for U.S. manufacturing PMI (purchasing managers’ index) came in at 49.1 in January, compared with 47.1 the previous month. The consensus estimate was 47.6. Notably, any reading below 50 indicates a contraction in manufacturing activities. However, January’s PMI improved to a good extent. The New Orders Index moved into expansion ...