Manufacturing index at 26-year low
Posted: Thu Feb 09, 2012 10:22 amManufacturing 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.
« Thread Started on Dec 1, 2008, 11:32am »
--------------------------------------------------------------------------------
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.