U.S. factories grew at a slower pace in September as manufacturers continued to cope with supply disruptions stemming from trade disputes with China, Europe, Mexico and Canada.
The disruptions forced manufacturers to make a larger draw on their inventories. Overall the country’s industry continues to show strength, the Institute for Supply Management reported Monday. The trade group of purchasing managers said its manufacturing index fell last month to 59.8 from 61.3 in August. Anything over 50 signals growth, and U.S. manufacturing is on a 25-month winning streak.
Fifteen of 18 manufacturing industries expanded in September, led by makers of textiles, plastics and rubber products, and computers and electronics.
Growth in new orders slowed in September, but production and hiring grew faster.
This article provided by NewsEdge.