Economy: Feb. 9, 2001
The manufacturing sector, which accounts for 20 percent of the entire U.S. economy, is now officially in a recession, according to data from the National Association of Purchasing Management (NAPM) that show six straight months of contraction in the sector; NAPM’s manufacturing index dropped to 41.2 in January, its lowest level since March 1991, at the end of the last recession; causes of the decline, according to analysts, include high energy prices, high inventories and weak consumer demand.
