Manufacturing Hits Three-Year Low

 

Dec. 1, 2006 -- Activity at U.S. factories slowed in November for the first time in more than three years, the Institute for Supply Management reported Friday.

Production, new orders, and employment in the manufacturing sector were all down in November, while manufacturers paid higher prices for raw materials, the report said.

The declines were blamed on the downturn in the housing market and a weaker economy, the report said.

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