Industryweek.com reported yesterday that manufacturing decreased during the month of November.
“The Institute for Supply Management index for November was 49.5, signaling a small decline in manufacturing activity from modest growth in October,” noted Daniel J. Meckstroth, chief economist for the Manufacturers Alliance for Productivity and Innovation (MAPI).
The sub-index for new orders fell 3.9 points to 50.3, and the employment index fell 3.7 points to 48.4. Inventories also contracted while price growth slowed, all showing the manufacturing sector as sluggish in the month.
Reports have pointed to a combination of causes for the drop in the manufacturing index, from the recent governmental talks concerning the “fiscal cliff” to a flattening of manufacturing orders to slowdowns caused by the aftermath of Hurricane Sandy.
Read the whole story here: http://www.industryweek.com/global-economy/manufacturing-shrinks-us-november