By msnbc.com news services
The pace of growth in the U.S. manufacturing sector unexpectedly slowed in October, according to an industry report released on Tuesday.
The Institute for Supply Management (ISM) said its index of national factory activity dipped to 50.8 from 51.6 the month before and missed expectations of 52.0, according to a Reuters poll of economists.
A reading below 50 indicates contraction in the manufacturing sector, while a number above 50 means expansion.
New orders rose to 52.4 from 49.6, while the prices paid index fell to its lowest level since April 2009 at 41.0 from 56.0. The employment index eased to 53.5 from 53.8.
Here's more from CNBC on the ISM?report:
Separately, U.S. builders spent slightly more in September on home construction, partially offsetting losses in public schools, roads and government offices.
The Commerce Department said construction spending rose 0.2 percent in September from August to a seasonally adjusted annual rate of $787.2 billion. It was the second straight monthly increase.
The Associated Press and Reuters contributed to this report.
kristin davis phillies phillies philadelphia phillies sand dollar sand dollar just dance 3
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.