May 21, 2013

Save Email Print Bookmark and Share
Posted: Mon 9:12 AM, Dec 03, 2012
A A
Reporter: Associated Press Email

U.S. Manufacturing Shrinks in November

WASHINGTON (AP) - A survey shows U.S. manufacturing shrank in November to its weakest level since July 2009. The impact of Superstorm Sandy and worries about automatic tax increases that could take effect in January combined to reduce factory orders and manufacturing jobs.

The Institute for Supply Management says its index of manufacturing conditions fell to a reading of 49.5. That's down from 51.7 in October.

A reading above 50 signals expansion, while readings below 50 point to contraction. The second contracted after two months of growth.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Next Story >
Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus

US Business News

  • Apple CEO Calls for Corporate Tax Reform
    Tim Cook challenged Senate investigators who reported Apple paid no corporate income tax on tens of billions of dollars in overseas income over the past four years and urged reforms.
  • Dimon Strengthens Grip at J.P. Morgan
    J.P. Morgan shareholders rejected a proposal to split James Dimon's dual roles as chief executive and chairman, and re-elected all the members of the bank's board.
  • Ford to Increase North American Output
    Ford plans to increase its North American manufacturing capacity by 200,000 vehicles through a series of production-line expansions and a shortening of its summer shutdowns.
  • Gupta Makes Case for Appeal
    Rajat Gupta asked a federal appeals court to set aside his insider-trading conviction because he said wiretaps were improperly allowed as evidence.
  • Pesticides Gain as Corn Loses Bug Resistance
    Sales of insecticides are surging after years of decline, as U.S. corn planting expands and a genetic modification used to protect crops from pests has started losing its effectiveness.
  • Phone Firms Sell Data on Customers
    Big phone companies have started to sell the data they gather about subscribers' locations, travels and Web-browsing habits, providing a powerful tool for marketers but raising new privacy concerns.
  • Investors Brave Loans That Fly Solo
    The market for bonds backed by a single loan on commercial real estate is booming for the first time since the financial crisis.
  • Prosecutors Weigh Use of RICO in SAC Case
    It is rare for an investment firm to be charged under the Racketeer Influenced and Corrupt Organizations Act, a powerful legal tool used against the Mafia and drug gangs.
  • Microsoft Shows Off Xbox One Console
    Microsoft unveiled a reinvented Xbox game console that demonstrated the software giant's most aggressive play yet for control of consumers' living rooms.
  • Burberry's China Sales Rise 20%
    Burberry showed further signs of recovery following a midyear profit warning, as it reported a rise in full-year revenue on Tuesday. Sales in China for the year finished 20% higher.