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Manufacturing index at 26-year low

Daily newsbrief journal for December 2008, also see http://www.usdemocrats.com/brief for a global 100-page perpetual brief and follow twitter @usdemocrats


Manufacturing index at 26-year low

Postby admin » Thu Feb 09, 2012 10:22 am

Manufacturing index at 26-year low
« Thread Started on Dec 1, 2008, 11:32am »

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Manufacturing index at 26-year low
Posted: 11:38 AM ET
By Ben Rooney
CNNMoney.com
NEW YORK (CNNMoney.com) — A closely watched index of the nation’s manufacturing activity fell further in November, to a 26-year low, and remained at a level indicating overall economic contraction for the second straight month, according to a survey of purchasing managers released Monday.

The Tempe, Arizona-based Institute for Supply Management said its manufacturing index declined to a reading of 36.2 from 38.9 in October. It was the lowest reading for the index since May 1982.

Economists were expecting a reading of 38, according to a survey by Briefing.com.

The tipping point for the index is 50, with a reading below that indicating contraction in manufacturing activity. A reading below 41 is considered a sign that the economy as a whole is in contraction.
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