Wall Street Journal (11/02/15) Harriet Torry
Manufacturing expanded at its slowest pace in more than two years in October, according to the Institute for Supply Management. The ISM’s manufacturing purchasers managers index declined from 50.2 in September to 50.1 in October. A reading above 50 indicates expansion.
Manufacturers are “not in a robust growth mode,” says Bradley Holcomb, who oversees the ISM survey. “It’s a little bit of wait and see.” Although overall manufacturing activity has grown for 34 consecutive months, the pace of growth has contracted for four months in a row.
Some economists say an increase in new orders indicate manufacturers may be recovering from their slowdown. Data from Markit Economics released yesterday shows manufacturing activity rose to a six-month high in October.
Exclusive Guide From Gibraltar—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.