WASHINGTON (WKOW) -- U.S. manufacturing shrank last month to its lowest level in three years.
The Institute for Supply Management says its index of manufacturing conditions fell from 51.7 in October, to a reading of 49.5 in November.
A reading above 50 signals expansion, while readings below 50 point to contraction. The second contracted after two months of growth.
The impact of Superstorm Sandy and worries about automatic tax increases that could take effect in January combined to reduce factory orders and manufacturing jobs.
5727 Tokay Blvd., Madison, WI 53719
News Tips: 608-273-2727 or firstname.lastname@example.org