U.S. Mfg. Sector in Slump: ISM

Things are a bit queasy in the U.S. manufacturing sector these days.

Tuesday, it was reported that the Institute for Supply Management's manufacturing index sank to 48.1% in November from 48.3% in October. Economists had forecast the index would register a reading of 49.2%.

This downward number marks the fourth straight sub-50 reading. Readings below 50% indicate business conditions are getting worse.

The key new orders index dipped to 47.2 from 49.1 in October. Orders haven’t been below this level since April 2009. Inventories dropped to a 42-month low. Employment dipped to 46.3.

A similar manufacturing survey by IHS Markit, meanwhile, registered 52.6 in November.