U.S. manufacturing activity falls sharply

(Feb. 3, 2014) -- Growth in new orders fell sharply with the sub-index down 13.2 points to an eight-month low of 51.2. Current production fell by a more modest 6.9 points to 54.8 from 61.7 in December. Supplier delivery rose to 54.3 from 53.7 in the previous month, indicating that shipments from suppliers were slower.