U.S. manufacturing sector growth eases in October |
Reuters - Nov 1, 2011 |
The pace of growth in the U.S. manufacturing sector slowed in October, in line with trends around the world, though improvement in new orders suggested resiliency in the sector.
While the survey from the Institute for Supply Management on Tuesday frustrated expectations for a pick up in factory activity, analysts said the report indicated a slow economic growth scenario rather than another recession.
The index of national factory activity dipped to 50.8 from 51.6 the month before, missing expectations of 52.0, according to a Reuters poll. A number above 50 signals expansion.
But in a positive sign, 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.
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- Posted: 2011-11-01 12:12:55
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