Wall Street Journal (09/05/12) Conor Dougherty
A closely watched gauge of the factory sector, released Sept. 4 by the Institute for Supply Management, showed manufacturing activity slipped to 49.6 from 49.8 in July. It was the third consecutive month in which activity fell. The two engines of the recovery—exports along with business spending on capital equipment and other investments—appear to now be running on fumes. Exports contracted during the month, though less than in July. A gauge of new orders fell 0.9 percentage points to 47.1 in August. Manufacturers surveyed by the ISM said orders have turned down as tepid global activity—due to the slowdown in Asia and a recession in much of Europe—has curbed demand.
Exclusive Guide to Factoring for Staffing Companies
Whether your firm needs working capital to hire new talent, maximize a marketing opportunity, or extend client payment terms, factoring allows staffing companies to convert unpaid invoices into cash today. Download now to get answers to the top 10 questions related to accessing working capital via invoice financing.