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Article: Manufacturing index drops to lowest in 28 years
- Article from:
- Deseret News (Salt Lake City)
- Article date:
- January 3, 2009
- Author:
CopyrightCopyright 2009 Deseret News (Salt Lake City). Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK -- Signs grew that the economy could turn even weaker in
2009, as an index of December manufacturing activity sank to its
lowest point in 28 years. Every corner of the sector was down, from
bakeries to cigarette-makers to aluminum smelters.
The Institute for Supply Management, a trade group of purchasing
executives, said Friday its manufacturing index fell to 32.4 in
December, a greater-than-expected decline from November's reading of
36.2. Wall Street economists surveyed by Thomson Reuters had
expected the reading to fall to 35.5.
Components of the index hit historic lows. New orders fell to
their lowest level on records going back to 1948. Prices fell as the
number of respondents ...