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 This material may not be published, broadcast, rewritten or redistributed.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:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Dr. Anthony Fauci: Ebola Can Be Weaponized

Tuesday, 16 Sep 2014 20:31 PM

Recalling that the Soviet Union stockpiled hemorrhagic fevers during the Cold War, a federal health official warned Tues . . .

Lindsey Graham: 'Mythical' Arab Army Cannot Defeat ISIS

Tuesday, 16 Sep 2014 20:21 PM

Sen. Lindsey Graham says he is skeptical that an Arab army will be put together to battle Islamic State (ISIS) forces on . . .

Dr. Kent Brantly to Congress: Ebola Is a 'Fire Straight From the Pit of Hell'

Tuesday, 16 Sep 2014 20:11 PM

America's response to the Ebola virus epidemic ravaging Africa was too little, too late, according to Dr. Kent Brantly,  . . .

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