U.S. manufacturing contracts in November

(Dec. 3, 2012) -- Activity in the U.S. manufacturing sector declined in November, as evidenced by the ISM manufacturing index falling to 49.5 in the month from 51.7 in October. A reading below 50 indicates that the sector is generally contracting, said Jeffries. The falloff in activity comes after two months of expansion, and the November level of the index represents the worst reading since June 2009. Market expectations had been for a marginal decline in the measure to 51.5, he noted.