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Manufacturing growth rate slips

October 01 2007

Growth in the U.S. manufacturing sector edged down in September with the key purchasing managers' index falling to 52.0 from 52.9 in August, the Institute for Supply Management reported today. A reading above 50 indicates growth, below 50 indicates contracting.

The ISM's manufacturing employment index rose to 51.7 in September from 51.3 in August.

"Manufacturing growth continued in September while some sectors of the economy are apparently struggling," said Norbert Ore, chairman of the institute's manufacturing business survey committee. "The trend is toward slower growth in manufacturing as the rate of growth in both the new orders index and production index slowed."

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