While the manufacturing sector accounts for only 12% of the world’s largest economy, it remains a significant barometer for the health of the American economy and, as a rule, is a good indicator of how well the rest of the world is doing
As with the earlier ADP report, the report makes for curious reading. The Production reading added a tad to 64.6 indicating still robust manufacturing activity. However, the pace of New Orders fell at the fastest pace since January
The Conference Board’s index decreased to 86 this month, weaker than the most pessimistic forecast in a Bloomberg survey of economists, from an August reading of 93.4 that was the strongest since October 2007, the New York-based private research group said today.