Manufacturing Declines in November

Washington, DC, Dec. 3, 2012 -- U.S. manufacturing contracted in November to the lowest level since July 2009, according to the Institute for Supply Management index.

The ISM index fell to 49.5% from 51.7% in October. Readings under 50 indicate more manufacturers are contracting than expanding.

The ISM's new-orders index fell to 50.3% from 54.2%, while the production index edged up to 53.7% from 52.4%.