Published on 1st October 2012
The Institute for Supply Management said Monday that its index of activity at manufacturers rose to 51.5, from 49.6 the previous month. In that survey, numbers above 50 signal expansion, so the rise was welcome. But it followed three months of contraction and reflects weak growth compared to the recent past. Last year, the index averaged 55.2. “Sales have tanked over the last two months, bringing a very concerned and stressed management team,” said an unnamed apparel and leather goods manufacturer quoted in the ISM’s announcement. “Not very optimistic for the near-term future.” The Washington Post