U.S. manufacturing index shows surprising weakness

12/3/2012 | CBS MoneyWatch · Reuters

U.S. manufacturing hit a more than three-year low last month, falling beneath the break-even 50 mark at 49.5 on the Institute for Supply Management index. Economists cited concern looking ahead to the outcome of U.S. budget talks and the lingering effects of Hurricane Sandy. "Since May, the index has been very close to 50, and I think what we are seeing is that manufacturing has stalled and has yet to recover," said Christopher Low, chief economist at FTN Financial.

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CBS MoneyWatch · Reuters

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