- Banned
- #41
US Manufacturing Sector Grew More Slowly During June
Published: Thursday, 1 Jul 2010 | 10:14 AM ET Text Size By: ReutersDiggBuzz FacebookTwitter More Share
The U.S. manufacturing sector grew in June for an eleventh straight month but at a slower rate than expected, according to an industry report released Thursday.
AP
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June marked the second straight month of slower growth.
The Institute for Supply Management said its index of national factory activity fell to 56.2 in June from 59.7 in May. The median forecast of 72 economists surveyed by Reuters was for a reading of 59.0.
A reading below 50 indicates contraction in the manufacturing sector, while a number above 50 means expansion.
The report's employment component fell to 57.8 from 59.8. New orders also fell to 58.5, suggesting growth may be moderating.
Published: Thursday, 1 Jul 2010 | 10:14 AM ET Text Size By: ReutersDiggBuzz FacebookTwitter More Share
The U.S. manufacturing sector grew in June for an eleventh straight month but at a slower rate than expected, according to an industry report released Thursday.
AP
--------------------------------------------------------------------------------
June marked the second straight month of slower growth.
The Institute for Supply Management said its index of national factory activity fell to 56.2 in June from 59.7 in May. The median forecast of 72 economists surveyed by Reuters was for a reading of 59.0.
A reading below 50 indicates contraction in the manufacturing sector, while a number above 50 means expansion.
The report's employment component fell to 57.8 from 59.8. New orders also fell to 58.5, suggesting growth may be moderating.