Manufacturing Shrinks for First Time in 2 Years

Monday, 02 Jul 2012 10:23 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

U.S. manufacturing shrank in June for the first time in nearly two years, a troubling sign that the economy is faltering.

The Institute for Supply Management, a trade group of purchasing managers, says its index of manufacturing activity fell to 49.7. That's down from 53.5 in May and the lowest reading since July 2009. Readings below 50 indicate contraction.

Stocks fell immediately after the report was released.

A measure of new orders fell below 50 for the first since April 2009.

Factories have been a key source of jobs and growth since the recession ended almost three years ago. But the sector has shown signs of weakness in recent months.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Undocumented Immigrants Picket White House to Demand Voice

Monday, 28 Jul 2014 21:58 PM

Undocumented immigrants picketed the White House on Monday, urging advocacy groups to refuse meetings with President Bar . . .

US: Russia Violated 1987 Nuclear Missile Treaty

Monday, 28 Jul 2014 21:41 PM

In an escalation of tensions, the Obama administration accused Russia on Monday of conducting tests in violation of a 19 . . .

Doctor with Franklin Graham Charity Who Contracted Ebola in Grave Condition

Monday, 28 Jul 2014 19:36 PM

Kent Brantly always wanted to be a medical missionary, and he took the work seriously, spending months treating a steady . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved