ISM Index down on Fiscal Cliff worries

The Institute of Supply Management’s (ISM) Index of Factory Activity fell from 51.7 to 49.5 in November after expanding in September and October (readings above 50 indicate growth, below 50 indicate contraction) due, in part, to concerns over the Fiscal Cliff.  Of the 18 manufacturing industries surveyed, one third still reported growth in November.  Important WNY industries showing growth were Food, Beverage & Tobacco and Furniture & Related Products, while Chemical Products, Fabricated Metal Products, and Machinery reported contraction.  See this link for more information: