US Manufacturing Grows More Slowly

Posted November 1st, 2011 at 11:25 am (UTC-5)
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The U.S. manufacturing sector grew more slowly in October.

Tuesday's study comes from an industry group, the Institute for Supply Management, which said measures of production, exports, and employment were lower than prior months.

U.S. factories were among the first businesses to start growing after the recession officially ended in June 2009.

While manufacturing growth was slower in October, it is the 27th month in a row that the factory sector has expanded.

Spurring growth in the sluggish U.S. economy is a key concern as top officials of the U.S. central bank gather in Washington Tuesday and Wednesday.

The Federal Reserve is expected to keep interest rates steady at their current ultra-low levels, but might take other actions intended to boost growth.

On Wednesday, Fed officials will announce their decisions, and offer an updated assessment of the economy. The Chairman of the Federal Reserve, Ben Bernanke, will meet with journalists on Wednesday to explain the economic outlook in detail.

On Friday, government experts will publish the U.S. unemployment rate, which is expected to stay at a relatively high 9.1 percent. Economists surveyed by news organizations predict Friday's data will show a net gain of 90,000 jobs nationwide. Since it takes about 100,000 new jobs each month to employ new entrants to the workforce, October's predicted gain would not be enough to cut the expected jobless rate.