Manufacturing Activity Slips in October

Manufacturing Activity Slips in October

U.S. factory activity unexpectedly contracted at a faster rate in October as demand for manufactured goods failed to materialize. The Institute for Supply Management’s PMI dropped by 2.3 percent last month to 46.7; new orders declined 3.7 percent to 45.5. “Demand just isn’t there,” said Tim Fiore, chair of the ISM’s manufacturing survey committee. An…

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