Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Survey: U.S. Manufacturing at 26-Year Low

The ongoing credit crisis and Hurricane Ike sent U.S. manufacturing to its lowest rate since 1982, the middle of another recession. (Unemployment in 1982 was a staggering 10.8 percent, highest since World War II. It stands at 6.1 percent now.)

In a survey of U.S. manufacturers -- businesses that make plastics, furniture, you name it -- the factory index dropped to 38.9. Any reading of less than 50 and the sector is considered in contraction.

The Institute for Supply Management's factory index was predicted by economists to come in at 41.

The Dow's early gains pared back following the release of the manufacturing survey.

The Dow, the S&P 500 and Nasdaq are flat.

-- Frank Ahrens

By Frank Ahrens  |  November 3, 2008; 11:15 AM ET
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Wall Street Waits on Washington
Next: Nov. 3, 2008

No comments have been posted to this entry.

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company