Home> Business» Published : 04 November, 2008 01:17:00

US manufacturing sector receives bad news

Manufacturing in the US contracted in October as banks made it tougher to get loans and faltering overseas economies stifled prospects for American exports.

The Institute for Supply Management's factory index fell to 38.9 from 43.5 in September,the weakest level for U.

The median line between expansion and contraction is 50.

With manufacturing ...

...recession, it is likely there will be further interest-rate cuts ahead, as well as additional tax and spending measures.

A record share of US banks made it harder for companies to take loans over the past three months as a result of losses from the financial crisis,

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