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US Oct manufacturing index dips to lowest levels since 2013

by ChemOrbis Editorial Team -
  • 03/11/2015 (13:02)
According to a report released by the Institute for Supply Management, a US manufacturing index for October slipped to the lowest levels seen since May 2013, declining to a reading of 50.1 from September’s reading of 50.2. Any figure above 50 represents an expansion.

Some economists cited a strong dollar and lower oil prices, which have weakened major oil companies’ spending activities, as the main reasons behind weaker manufacturing activities.

ISM’s report also showed that the new orders sub-index rose to a reading of 52.9 in October from 50.1 in September while export orders posted fresh declines. In addition, the employment index also fell for the first time in six months, declining to its lowest levels since August 2009.
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