The pace of growth in the U.S. manufacturing sector slowed in September, an industry report on Friday showed, and employment in the sector also declined.
The Institute for Supply Management said its index of national factory activity slipped to 54.4 last month from 56.3 in August.
The median forecast of 79 economists surveyed by Reuters was for a reading of 54.5. A reading above 50 indicates expansion.
While manufacturing has expanded every month since August 2009, the pace of growth has slowed in recent months amid signs a broader U.S. recovery was running out of steam.
In September, sector employment slipped to 56.5 from 60.4 in August.
It could be just a short-run slowdown. Maybe in the up-coming few months, things will pick up. We'll see how the market really improves when Thanksgiving comes, don't you think?
ReplyDeleteHopefully the pace will pick back up with the holidays coming up, this usually tends to happen, we will have to wait and see what happens after the season to see if it is just due to the holidays or infact things are actually getting better.
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