Manufacturing index drops to 26-year low - WKOW 27: Madison, WI Breaking News, Weather and Sports

Manufacturing index drops to 26-year low

WASHINGTON (AP) -- A trade group says a measure of U.S. manufacturing activity fell to a 26-year low in November as new orders fell for the twelfth consecutive month.

  The reading of 36.2 from the Institute for Supply Management's monthly survey of manufacturing activity is below October's 38.9.

  It is also worse than Wall Street economists' expectations of 38.4 as measured by a survey by Thomson Reuters.

  A reading below 50 indicates the sector is contracting.

  The ISM says the November figure is the lowest since May 1982 when the economy was in the midst of a painful recession.

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