Bloomberg is reporting Manufacturing Growth Slowed in October
Manufacturing in the U.S. expanded at the slowest pace in more than three years last month and construction spending unexpectedly declined because of a deteriorating housing market.
The Institute for Supply Management’s factory index fell to 51.2, lower than forecast, from September’s 52.9. A reading higher than 50 signals expansion. A measure of prices paid for raw materials dropped to the lowest in more than four years. Outlays for construction fell 0.3 percent in September following no change, the Commerce Department said in Washington.
Manufacturers are providing little spark for the economy, which grew the […]
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