Tuesday, December 4, 2012

U.S. Manufacturing sinks to 3-year low

U.S. manufacturing fell to its lowest level in over three years.

The Institute for Supply Management (ISM) said its index of national factory activity fell to a reading of 49.5 in November, the lowest its been since July 2009.

Readings below 50 indicate contraction; the index has been under 50 in four of the last six months.

The manufacturing employment [jobs] index fell to a reading of 49.5 in November, the lowest since September 2009.

New orders fell to 50.3 in November, their lowest since August.

Prices paid fell to 52.5 from 55.0 in October.