none

US FACTORY ACTIVITY GROWTH SLIPS IN OCTOBER

03-11-2014
by 
in 

The US manufacturing sector slowed in October to its lowest rate of growth since July, according to a new industry report.

New orders hit their lowest level since January, the report showed.

Financial data firm Markit said its preliminary or "flash" US Manufacturing Purchasing Managers Index fell to 56.2 from September's final reading of 57.5. A reading above 50 signals expansion in economic activity.

The new orders subindex dropped to its lowest level since January, falling to 57.1 from a final reading of 59.8 in September. Output fell to 58.0, the lowest since March, from 59.6 in September.

"The data will no doubt add to the view that policymakers should be in no rush to raise interest rates, with output and order book growth slowing and price pressures easing," said Chris Williamson, chief economist at Markit.

"On the other hand, sustained strong job creation will raise worries that slack continues to be eroded, which could drive up inflation in the medium term," Williamson said.

The employment subindex eased slightly from September's level, which was the strongest reading of labor conditions in the manufacturing sector since March 2012.

Markit's "flash" reading is based on replies from about 85 percent of the US manufacturers surveyed.

Related news & editorials

  1. Conymet Duratray
    08.04.2021
    08.04.2021
    by      In
    Cranbourne Victoria will become the centre for an internationally supported manufacturing facility that will create up to 100 new highly skilled jobs.
    Minister for Economic Development Tim Pallas welcomed the decision by Conymet Duratray International to grow its current Victorian footprint by... Read More
  2. Australian made logo
    07.04.2021
    07.04.2021
    by      In
    Calls for buyers to support local manufacturing by choosing Australian made goods have gained momentum with the announcement of an Australian Made Campaign Week (AMCL) for May this year.
    AMCL is encouraging shoppers to actively focus their purchases on genuine Australian made products, helping to... Read More
  3. globe
    06.04.2021
    06.04.2021
    by      In
    The ongoing demand for iron ore and growth in technology-related commodities such as lithium, nickel and copper are set to drive a recod $296 billion in export earnings for 2020-2021, according to latest reports.
    The Resources and Energy Quarterly from the Department of Industry, Science, Energy... Read More
  4. 06.04.2021
    06.04.2021
    by      In
    The school holidays are upon us, and the Australian Made Campaign wants shoppers to look for the iconic Australian Made logo on all their Easter holiday purchases.
    You can find the green and gold kangaroo on furniture, bakeware, gifts, camping equipment, toys, outdoor play equipment, and thousands... Read More
Products
Suppliers