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Institute of Supply Management's headline index slips to 53.6
NEW YORK, Oct. 2 () -- The pace of manufacturing growth in the Empire State slowed in September, the Institute of Supply Management said Wednesday.The general business index, remained positive,[url=http://www.sorkan.com/]christian louboutin pas cher[/url], although it slid to less than 60 for the first time in two months,[url=http://www.tjmobiles.com]Chaussure Gucci[/url], the institute said, noting July and August were the first back-to-back months above 60 in two years.The Current Business Conditions Index in September came in at 53.6, remaining higher than the neutral figure of 50 but showing a slower pace of growth.The Six-Month Outlook Index also dropped, reaching a four-year low at 59.1.Even at a four-year low, coming in at more than 50 put the Six-Month Outlook "squarely in expansion territory," the institutes's monthly report said.The Employment Index for the Empire State came in just above break even at 50.2. The Current Revenues Index, however, came in at 47.3, indicating a contraction.On the side, the survey's Question of the Month asked business managers to "Grade the Fed."Specifically, the survey asked, "How would you judge the Federal Reserve's third round of quantitative easing, which began a year ago, in supporting a faster economic expansion and a faster labor market recovery?"Among the respondents, 8 percent deemed the Fed's third round of asset purchases as a large success. Thirty-three percent indicated it was a small success and 23 percent indicated they were neutral about the program's success. Of the remainder, 15 percent indicated they believed the program was a small failure while 21 percent indicated it was a huge failure, the institute said.