Monday, December 01, 2008

US manufacturing hits 26-year low

The Institute of Supply Management said its manufacturing index slumped 2.7 points to 36.2 percent, far below the 50 percent level that separates expansion and contraction. The level was the lowest since May 1982. New orders fell even further to a level of 27.9 percent, suggesting the worst may not be over yet for the sector.

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