US Manufacturing Decreases Again
WASHINGTON (AP) — U.S. manufacturing output dropped for the third straight month in October as trade tensions and a slowing global economy took a toll on American factories.
The Institute for Supply Management, an association of purchasing managers, said Friday that its manufacturing index blipped up to 48.3 last month from 47.8 in September. But anything below 50 signals a contraction and manufacturing has been on a three-month losing streak.
New orders, production and hiring all contracted. But export orders increased in October after falling in September.