Monday, December 3, 2007

Manufacturing ISM Steady in November at 50.8

November Manufacturing ISM barely softened, falling from 50.9 to 50.8, to the slowest pace of growth in ten months. But, it is still in expansion territory above 50.

The slowing economy and tighter credit has businesses becoming more cautious and reducing capital expenditures. The data in November was mixed with production rising but order backlogs falling. Inventories fell while new export orders rose. Imports held steady. Employment fell while prices paid rose to the highest level since last June.

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