ISM Manufacturing Index Falls To Lowest Level In 2 Years
U.S. manufacturers grew in September at the slowest pace in more than two years, a survey of executives found. The Institute for Supply Management said its manufacturing index dropped to 50.2% last month from 51.1% in August, reflecting a stronger dollar and weaker global economy that hampering U.S. exports of many major American-made goods. That's the weakest reading since May 2013. Economists surveyed by MarketWatch had forecast the index to fall to 50.6. Still, readings over 50% indicate more companies are expanding instead of shrinking. The employment gauge fell 0.7 points to 50.5%. The ISM's new-orders index slid 1.6 points to 50.1%.
Copyright © 2015 MarketWatch, Inc.