Manufacturing index drops to 26-year low | G.O.O.D

Mountain House Freeze-Dried Food « Protesting Icelanders storm bank, streets, over economy crisis Global stocks tumble » Dec 01 2008 Manufacturing index drops to 26-year low Posted by: Joshuah in Economics, tags: China, Europe, Global Downturn, Institute for Supply Management, manufacturing, National Bureau Of Economic Research, recession, Wall Street, Wall Street Economists Source: Yahoo! Finance A gauge of U.S. manufacturing activity that fell to a 26-year low Monday followed similarly weak readings in Europe and China, fueling fears of a deepening global downturn. The Institute for Supply Management’s index of manufacturing activity for November fell to 36.2 from October’s 38.9. The reading was worse than Wall Street economists’ expectations of 38.4, according to a survey by Thomson Reuters. A figure below 50 indicates the sector is contracting. The November reading is the lowest since May 1982, the Tempe, Ariz.-based ISM said. The report is based on a survey of corporate purchasing managers. The report came the same day that the National Bureau of Economic Research, a private group, said the U.S. economy has been in a recession since December 2007. Full Story Technorati Tags: manufacturing This entry was posted on Monday, December 1st, 2008 at 8:40 pm and is filed under Economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. Leave a Reply You must be logged in to post a comment. Login »
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Creative Commons Attribution 3.0 United States

Creative Commons Attribution 3.0 United States