US manufacturing activity cools further: ISM

0 Comments | AFP, November, 2006

WASHINGTON (AFP) — Growth in US industrial activity slowed in October while inflation pressures eased, a survey by the Institute of Supply Management showed. The ISM index of national industrial activity fell to 51.2 percent from 52.9 percent in September. That was weaker than the figure of 53.0 percent expected on Wall Street.

Any reading over 50 indicates growth, so the report suggests the industrial economy is growing but at a sluggish pace. The ISM said it was the slowest pace of growth since October 2003. The prices paid index -- a measure of inflation for companies -- fell to 47.0 percent from 61.0 percent a month earlier. Norbert Ore, the ISM survey chief, said the results of the survey were mixed. The index of new orders fell more than two points to 52.1 percent,...