Dados
Enviado: 2/12/2002 16:10Washington, Dec. 2 (Bloomberg) -- U.S. manufacturing contracted at a slower pace last month, evidence that the worst of the factory slowdown may have passed, an industry report showed.
The Institute for Supply Management's factory index rose to 49.2 in November compared with a reading of 48.5 the previous month. The index has been lower than 50, signaling contraction, since September.
``We aren't seeing sufficient growth yet to get businesses very exited,'' said Anthony Chan, chief economist at Banc One Investment Advisors in Columbus, Ohio, before the report. ``Until they start to believe that this economy is on a real, sustainable growth path, you're going to see restraint in production and hiring.''
Economists expected a reading of 51 in the factory index, based on the median of 45 forecasts in a Bloomberg News survey. The Tempe, Arizona, group surveys more than 400 companies in 20 industries, including clothing, printing, transportation, furniture and plastics. Manufacturing accounts for about one- seventh of the economy.
The Institute for Supply Management's factory index rose to 49.2 in November compared with a reading of 48.5 the previous month. The index has been lower than 50, signaling contraction, since September.
``We aren't seeing sufficient growth yet to get businesses very exited,'' said Anthony Chan, chief economist at Banc One Investment Advisors in Columbus, Ohio, before the report. ``Until they start to believe that this economy is on a real, sustainable growth path, you're going to see restraint in production and hiring.''
Economists expected a reading of 51 in the factory index, based on the median of 45 forecasts in a Bloomberg News survey. The Tempe, Arizona, group surveys more than 400 companies in 20 industries, including clothing, printing, transportation, furniture and plastics. Manufacturing accounts for about one- seventh of the economy.