The Institute for Supply Management's survey showed that new orders and production declined sharply.
The new orders index was 52.0, an increase of 0.2 percentage points over the previous month.
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The new orders index continued to stay above the threshold as well, NBS said today.
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New orders dropped to 5.8 from 11.8 and shipments dropped to 1.6 from 11.3.
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Six-month leading indicators increased for new orders and shipments as well as for future employment.
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If that prompts a wave of new orders, the shares could command a premium.
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The slowdown was partly blamed on the steepest fall in new orders since May 2009.
New orders would lead to updated production lines and tools, much of it imported.
The business body also reported that total new orders had fallen sharply over the past quarter.
New orders fell for the fifth month in a row, including another fall in manufactured exports.
Home closings, new orders and backlog were all up in double digits from the year-ago period.
The drop in confidence was due to a decline in production and a slump in new orders.
Excluding the often volatile transportation sector, new orders were down 1.8%, the biggest drop since March 2009.
Within the ISM report, new orders also rose in December, which had companies boosting production and employment.
The non-manufacturing ISM report showed expanding business activity, new orders and employment, but at a decelerating pace.
This reflects the great volatility of the data series and partly reflects weak new orders in manufacturing PMI.
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The two components that dropped the most were New Orders and Backlog of Orders, suggesting more weakness ahead.
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The new orders were a hot topic over the past weekend, when milbloggers gathered in Arlington, Va.
All 13 industries expanded for the month, with new orders, production, employment and supplier inventories leading the way.
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The new orders index also remained below zero, at -7.8, while the shipments index was positive at 3.0.
New orders and shipments for manufacturing in New York, however, slumped this month, according to the Empire index.
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The new orders index fell marginally to 52.7 from 52.9, but new export orders rose 0.9 to 50.1.
Without new orders for Bombardier, they fear the UK's last train making production hub will disappear for good.
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Net new orders are up 66% from a year ago, with the backlog up 58% to 1, 645 unbuilt homes.
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New orders slowed 1.9% to 51.7%, new export orders contracted 8% to 49%, and employment slowed 1.6% to 52.5%.
As the chart shows, new orders for private housing and commercial buildings increased in the last quarter of 2009.
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However, new orders appear to be falling, a trend which could prove to be a problem if it persists.
In notable economic news this week, the Commerce Department announced that new orders for factory goods increased sharply in February.
They will have no choice but to make new orders, which in turn will force suppliers to hire more staff.
New orders to build ships for the Royal Navy have given the old industrial giant a new lease of life.
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