US manufacturing plummets to lowest level since 2020 ...Middle East

U.S. manufacturing activity fell for the fourth month in a row while prices paid to manufacturers also decreased to the lowest level in more than two years. The Institute for Supply Management’s (ISM) October purchasing managers’ index came in at 50.2 percent, 0.7 percentage points lower than September and the lowest level since May 2020. The number indicates the manufacturing sector is nearly running flat. The survey’s prices index fell 5.1 percentage points to 46.6 percent, also the lowest measurement since May 2020. “The U.S. manufacturing sector continues to expand, but at the lowest rate since the coronavirus pandemic recovery began,” Timothy Fiore, chair of the Institute fo

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