Report finds manufacturing growth slows
November 01 2007
Growth in the U.S. manufacturing sector slowed to its lowest level since March 2007, according to the Institute for Supply Management. Its key purchasing managers index for manufacturing fell to 50.9 in October from 52.0 in September, the organization reported today. The employment portion of the index, however, rose to 52.0 in October from 51.7 in the prior month.
"It does appear that the impact of the slowdown in the financial, housing, and transportation segments has spilled over into manufacturing with the exception being continued strength in new export orders," said Norbert Ore, chair of the institute's manufacturing business survey committee.