ISM manufacturing gauge slows to 50.8% in October

[Roland99]

Source: MarketWatch

Growth in the U.S. manufacturing sector decelerated in October as production and inventories declined, according to a closely followed index. The Institute for Supply Management's manufacturing gauge dropped to 50.8% last month - just slightly above a 2011 low - from 51.6% in September. Economists surveyed by MarketWatch had expected the index to rise to 52.1%. Reading over 50% indicate that more manufacturers are expanding instead of shrinking. Only eight of the 18 industries tracked by Tempe, Ariz.-based ISM reported growth in October, down from 12 in the prior month. The ISM's new-orders index was unchanged, employment rose and prices fell.

Read more: http://www.marketwatch.com/story/ism-manufacturing-gauge-slows-to-508-in-october-2011-11-01?link=MW_home_latest_news