US Factories mired in worst slump in 28 years

U.S. factory activity fell to a 28-year low in December as the deepening year-old recession hammered the manufacturing sector, producing a bleak outlook at the start of 2009. The Institute for Supply Management said on Friday its index of national factory activity fell to 32.4, a figure indicating contraction and the lowest reading since 1980 [.

Posted: 2009-01-03 02:30:00

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