Local factory growth slows in October, purchasing managers say - The Buffalo News
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Local factory growth slows in October, purchasing managers say

Local manufacturers slumped a bit during October as production cooled, a survey of purchasing managers found.

The survey by the Institute of Supply Management – Buffalo showed that production at local factories slowed during October for the second time in the last three months.

Jay K. Walker, the Niagara University economist who compiles the report, said it was a “bit of another lackluster month ... After the nice rebound in September I’d kind of thought we might be back in expansionary territory for a while.”

The group’s business activity index fell to 46.7 during October – a level that indicates a weakening economy – compared with 56.8 in September. It was the second time in the past three months that the index has been in declining territory.

While production weakened, the flow of new orders grew for the first time in three months and hiring grew for the second straight month and commodity prices declined.

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