Tempe, AZ, November 1-- The pace of growth at U.S. factories slowed in October. The Institute for Supply Management said its index of national manufacturing activity fell to 56.8 in October from 58.50 in September.
The employment index fell to 54.8 from 58.1, while the prices paid index rose to 78.5 from 76.0. The new orders index edged up to 58.3 from 58.1.
The main index was lower than analysts' median forecast of 59.0. A reading above 50 indicates growth in the factory sector, which has been case for 17 consecutive months.
The ISM index is compiled from monthly responses of purchasing executives at more than 400 industrial companies, ranging from textiles to chemicals to paper.
