(Sharecast News) - US manufacturing activity slipped further in November amid weaker domestic and international orders, the results of a closely followed survey revealed.
The Institute for Supply Management's factory sector Purchasing Managers' Index slipped from a reading of 50.2 for October to 49.0 in November.
Consensus had been for a reading of 49.8, although a much weaker than expected reading for the regional Chicago PMI just the day before had led some to lower their projections.
A key sub-index for new orders retreated from 49.2 to 47.2, while that for production slipped from 52.3 to 51.5.
For both the headline and most subindices the 50.0 point level marked the threshold between an expansion and contraction.
The sub-index for employment also fell, from 50.0 to 48.4, while that linked to the prices charged by firms declined from 46.6 to 43.0.
Another sub-index tracking inventories meanwhile fell from 52.5 to 50.9.
-- More to follow --