Manufacturing growth slows

Manufacturing activity ticked down slightly in September but still marked a second straight month above contraction levels, a purchasing managers' group said Thursday.

The Tempe, Ariz.-based Institute for Supply Management's (ISM) manufacturing index reading of 52.6 missed estimates from economists, who expected a jump to 54 from August's 52.9, according to a Briefing.com consensus survey.

"It appears the fundamentals for continuing recovery are still at work," said ISM chairman Norbert Ore, in a prepared statement.

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- Posted: 2009-10-01 12:36:17

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