Reuters/Business
activity in the U.S. Midwest contracted this month for the first time
since September 2009, as new orders sank, a report showed on Friday.
The Institute for Supply Management-Chicago business barometer fell
to 49.7 from 53.0 in August. Economists had forecast an unchanged
reading of 53.
A reading below 50 indicates contraction in the regional economy.
The forward-looking new orders index plummeted to 47.4, from 54.8. while the gauge of employment sank to 52.0 from 57.1 last month.
A reading below 50 indicates contraction in the regional economy.
The forward-looking new orders index plummeted to 47.4, from 54.8. while the gauge of employment sank to 52.0 from 57.1 last month.
Read more: http://www.foxbusiness.com/economy/2012/09/28/midwest-manufacturing-activity-contracts-for-first-time-in-three-years/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+foxbusiness%2Feconomy+%28Internal+-+Economy+-+Text%29#ixzz27niahgLp
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