(AP) - STILL SHRINKING: Manufacturing in the Philadelphia region shrank for a fifth straight month in September, suggesting further weakening in demand for American-made goods.
THE NUMBERS: The Federal Reserve Bank of Philadelphia said its index of regional manufacturing had a reading of -1.9 in September. Any reading below zero indicates contraction.
THE CONTEXT: Manufacturing has slowed since spring. A weak job market and meager pay raises have hurt consumer spending, businesses are investing less in machinery and slower global growth has cut demand for U.S. exports.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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